Two Indian Companies Will Invest $45m in Bahrain
- Publish date: Tuesday، 21 March 2023
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Two prominent Indian companies, Titan and Aerolam Middle East, are preparing to invest a combined total of $45 million as they enter the Bahraini market.
Titan, a subsidiary of the Tata Group and a major manufacturer of wristwatches, is launching its Tanishq fine jewellery brand in Bahrain through a franchise partner from India. Over the next 15-18 months, Titan plans to invest around $30 million in opening three retail outlets across the kingdom.
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During a recent visit to India by a high-level delegation from Bahrain organized by the Bahrain Economic Development Board (EDB), it was announced that Aerolam Middle East, a subsidiary of Indian company Aerolam Insulations, will establish operations in the Bahrain International Investment Park (BIIP) at a cost of $14.5 million.
The company will specialize in producing insulation materials such as foam sheets and cross-linked polyethylene pipes, utilizing advanced engineering and research and development teams. The visit aimed to promote investment opportunities in Bahrain's priority sectors.
Brijesh Patel, managing director at Aerolam Insulations, said, “With the active support of the government of the kingdom, we look forward to setting up our first manufacturing unit outside India. Bahrain was a natural choice given its central location and advanced logistics infrastructure, enabling us to cater to the GCC with greater speed and efficiency.”
Bahrain and India share a strong bilateral relationship, with India consistently ranking as one of Bahrain's top 10 trading partners. The volume of trade between the two countries has risen by 30% since 2018 and reached $1.4 billion in 2022.