12 February 2021 www.bahrainthismonth.com interview BOLSTERING HISTORIC RELATIONS The Kingdom of Bahrain and Republic of India have enjoyed cordial relations, bilateral trade and cooperation that has been firmly rooted in history. Ahead of the Indian Republic Day, which is marked on January 26 every year, we met with the prolific individual responsible for representing the 350,000 Indians residing in Bahrain - the Ambassador of India, HE Piyush Srivastava. Having significant experience in the diplomatic field, including being stationed in Berlin and Ghana, HE aims to apply his understanding of global and regional issues during his tenure in the Kingdom of Bahrain. Working closely with Bahrain’s leadership and government, HE aims to further strengthen the multi-faceted ties between the two countries in all spheres including political, security, economic and trade, and social and cultural. CURRENT STATUS AND DEVELOPMENT OF TRADE In the present context, both countries have bolstered excellent trade and economic relations. “Key sectors include IT, construction and real estate, food products, iron ore and aluminum, energy, health and financial services. Though I must add that a huge potential is still untapped,” says HE. With Bahrain’s Economic Vision 2030, the gateway to the GCC market, has embarked on the journey of diversification of its economy with liberalisation of foreign direct investment (FDI) regime in a number of promising sectors such as financial services, ICT, logistics, manufacturing and tourism. “Several transformative economic reform measures and initiatives, taken recently by both governments for economic revival in the post COVID-19 scenario, have opened up new opportunities for bilateral trade and investment,” HE explains. In addition, India’s ‘AtmaNirbhar Bharat (SelfReliant India)’ policy aims to make India a much stronger part of the global supply and value chain. “These developments have created a new, dynamic synergy between the two countries and have led to the opening up of new avenues for enhanced economic cooperation in sectors such as IT, Fintech, health and pharmaceuticals, defence, space, infrastructure and construction, and energy including solar or renewable energy,” HE adds.
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