The state visit of Prime Minister Narendra Modi to the Kingdom of Bahrain is a first by an Indian Prime Minister.
LuLu Group chairman and managing director Yusuff Ali M A has hailed this visit as a milestone in the relations between Bahrain and India.
“It shows the deepening ties between both nations and underscores the significance of Bahrain in India’s West Asia policy,” he said.
“For the nearly 400,000 Indian diaspora in the kingdom, which has contributed so richly to the growth of modern Bahrain, this is a crowning moment, and an honour and celebration of ties between India and one of the most harmonious, peaceful, prosperous and tolerant countries in the world.
“Bahrain and India are re-casting their millennia-old relations and vibrant trade platform.
“I believe that the growth of India-Bahrain bilateral trade for the year 2018 to 2019 has touched $1.282 billion, registering an increase of almost 30 per cent over the previous year, and India has become the fifth largest trading partner of Bahrain.
“As of March 2018, India’s total capital investment into Bahrain has been estimated at approximately $1.69bn.
“Of this, we at the LuLu Group are particularly proud of our growing contribution of nearly $300 million in the kingdom.
“I am especially proud of the new-generation relationship between India and Bahrain in which we are seeing a robust growth in transfer of technology and vital research and development through telecommunications, medicare and a collaboration with the Indian Space Research Organisation.
“India is also a key player in Bahrain, which is aptly visible in many sectors, right from oil to trade, aviation and infrastructure development to tourism.
“Apart from the strategical and political goals, this visit will surely further boost the socio-cultural ties, as well as the personal and warm camaraderie between the visionary leaders of India and Bahrain.
“As India is marching towards its ambitious goal of becoming a $5 trillion economy, the Kingdom of Bahrain too will undoubtedly play a key role in this thanks to existing trade ties, close proximity, large Indian diaspora and above all the personal and warm friendship between the great leadership of both nations.”