Wednesday, September 10, 2014

#CII office launch in #Bahrain

The Confederation of Indian Industry (CII) has announced that it will launch its first office in the Middle East at a ceremony in Bahrain.
 The GCC is one of India’s most important trade and investment partners and the CII’s Bahrain office will aim to build on this relationship by encouraging Indian investment into the region. The launch represents a further strengthening of the relationship between Bahrain and India. There are over 350,000 Indian residents in Bahrain and total trade between India & Bahrain in 2011 exceeded $1.7 billion.
Prem Narain, Secretary, Ministry of Overseas Indian Affairs and Chairman, OIFC said, “We hope that Indians overseas and Bahrain nationals will both be able to take advantage of this opportunity. Presently, there is a renewed interest in India as market, and India is also ready for investment. With the objective of strengthening India as the destination for business, OIFC has mounted a strong business delegation on the occasion of the Overseas Diaspora Engagement Meet and has signed a MoU with the EDB today with the hope that this will further bi-lateral interests and promote business interests in both nations.”
Chandrajit Banerjee, Director General, CII, said: “The Gulf is a very important partner for Indian businesses and we are delighted to be opening our first office in the region as we look to work for Indian Corporates as they look to expand internationally. Similarly, it would also facilitate promote investment from this region to India.
“The opening of our first office in the region is yet another step in developing our longstanding partnership with Bahrain and the region, and we are very excited about the possibilities this will bring in the future,” he said.