Bahrain is ready to build transformative partnerships for sustainable, and more inclusive growth: Dr Khaled Fahad Alalawi, Assistant Undersecretary for Industrial Development, Ministry of Industry and Commerce, Bahrain

“The Kingdom of Bahrain and India share a special bond. For centuries, Bahrain has served as a vital gateway for global traders and Indian merchants connecting the Indian subcontinent to the wider Gulf, the Middle East, and beyond,” said HE Dr Khaled Fahad Alalawi, Assistant Undersecretary for Industrial Development, Ministry of Industry and Commerce, Kingdom of Bahrain speaking at the session on ‘Shaping Strategic Alliances: The Role of Geoeconomics’ at the 29th CII Partnership Summit, organized by the Confederation of Indian Industry (CII) in partnership with the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry in New Delhi today.

He added that this partnership between India and Bahrain has thrived, rooted in trust, mutual respect and shared ambition. He highlighted Bahrain’s strategic position at the crossroads of global trade and Bahrain’s Free Trade Agreements (FTAs) and role in regional, and global supply chains. He mentioned that Bahrain is ready to build transformative partnerships for sustainable, and more inclusive growth.

Ambassador Arun Singh, Former Ambassador of India to the US, Israel and France  shared, “Instead of globalisation of trade and production, what we are now hearing is onshoring of production, reshoring of production and friendshoring of production.” He added that the phase of globalisation resulted in one major player exploiting this period to increase its share and concentration of manufacturing and critical minerals. The ambassador also added that the United States is entering into a phase of intense competition with China and recommended that countries develop relationships without committing to any specific power. India should focus on technology partnerships with the United States and deepening integration of US technology firms in India, he added.

Dr Tanvi Madan, Senior Fellow, Center for Asia Policy Studies, Brookings Institution, USA shared that the US has seen India as more strategically likeminded than several others, particularly on the issue of China. The US sees India as a more open, trusted partner, a source of talent and innovation. She also added that India could act as a bridge for the US to the Global South and that both countries have collaborated through iCET, QUAD, and Mineral Security Partnership.

Ms Charlotte Flindt Pedersen, Executive Director, Danish Foreign Policy Society, Denmark said, “There is a huge potential in the EU-India relationship, which has not been capitalised as yet.” She added that the EU is the biggest trading partner of India and that there have been initiatives to increase relations between both parties as there is a very strong mandate from the member states to the EU Commission to take the EU-India relationship forward.

Mr Pramit Pal Chaudhuri, India Head, Eurasia Group shared that technology is particularly strategically important and that companies are looking at doing business in countries that would be geopolitically aligned with their respective governments. Mr. Pal Chaudhuri added that America is by far India’s largest economic partner across FDI, FII, and remittances. He added that supply chains in digital, pharma, and goods with high intellectual property value will shift with geopolitics.

Mr Raj Chengappa, Group Editorial Director (Publishing), India Today Group noted that geoeconomics is increasingly playing a tremendous role in the way we look at international affairs and how it shapes it. Black swan events such as the COVID pandemic and its role in exposing global dependence on China and the Russia-Ukraine conflict and the Israel-Hamas strife have impacted geoeconomics.

New Delhi

3 December 2024