The Bahrain Economic Development Board (Bahrain EDB) has secured investment commitments worth $16.65 million from three leading Indian companies during its ongoing visit to India.
The investments span the sectors of manufacturing, renewable energy and information and communications technology (ICT).
The announcements were made in Mumbai, Bengaluru and Chennai, highlighting the strong economic ties between Bahrain and India, with the national investment promotion agency attributing the success to the ‘Team Bahrain’ approach.
Sustainable Development Minister and Bahrain EDB chief executive Noor Al Khulaif expressed pride in welcoming these companies to Bahrain, emphasising the nation’s business-friendly environment and its growing reputation as a regional hub for manufacturing and technology firms.
“We at Bahrain EDB are proud to welcome these companies to our business-friendly island nation, further underscoring the robust economic and commercial ties between India and Bahrain that have been traced back 5,000 years to the Dilmun and Indus Valley civilisations,” she said.
“This cumulative investment reflects the strength and competitiveness of Bahrain’s value-proposition and fast-growing reputation as a key regional hub for leading manufacturing and niche technology firms seeking a trusted international destination for expansion.”
Among the Indian companies expanding their operations in Bahrain is Chemco, a leading packaging solutions provider. The company is set to increase its production capacity at Bahrain International Investment Park (BIIP), incorporating fully automated lines to meet the growing demand in the island nation’s Fast-Moving Consumer Goods (FMCG) sector.
Commenting on the expansion plans, Chemco managing director Gaurav Saraogi said, “We are excited to expand our operations and production capabilities in Bahrain, where the business environment offers unmatched opportunities for growth and a supportive ecosystem for investors. Bahrain has proven to be a strategic partner in driving our success, with its streamlined processes, ease of doing business, and commitment to working towards a carbon-neutral economy which aligns with Chemco’s long term objectives of deeply ingraining sustainability principles across all operations to pave the way for a greener future.”
Bhageria Industries, a diversified Indian conglomerate, is also investing in Bahrain. The company has secured a 10-year turnkey contract to develop an 11.40 MW solar project at Khalifa Bin Salman Port. This project marks Bhageria’s first international solar venture, further solidifying Bahrain’s commitment to renewable energy.
Last year APM Terminals Bahrain, the operator of the Khalifa Bin Salman Port, announced it is investing around $10 million to develop a solar power project, which will reduce its carbon emissions by 65 per cent. The plant will be powered by 20,000 solar photovoltaic panels, which will be installed on the roofs of four warehouses at KBSP, covering a total area of more than 71,000sqm, it said.
In addition, an unnamed ICT firm is establishing its regional headquarters in Bahrain, strengthening the kingdom’s position as a technology hub. This investment will contribute to Bahrain’s efforts to build a tech-driven economy and a highly skilled talent pool.
Bahrain’s business-friendly environment, strategic location, and supportive government policies have continued to attract significant Indian investments. India’s foreign direct investment stock in the kingdom has grown by 36.6pc between 2019 and 2023, reaching $1.52 billion in 2023.
According to the Indian newspaper Deccan Herald, in addition to the projects announced, a Chennai company in the field of advanced manufacturing and making electronic equipment is pitching an investment almost equivalent to that being made by the first three.
Ms Al Khulaif is reported to have told Deccan Herald that the fifth one is in the sector of healthcare and is projected to be valued at $50m.
avinash@gdnmedia.bh
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