Two Indian companies to launch in Bahrain with an expected total investment of around USD45 million

Manama, March 19 (BNA): With the support of the Bahrain Economic Development Board, two leading India-based companies, Aerolam Middle East and Titan Limited (Titan), are preparing to launch operations in Bahrain. With a total investment of around US$45 million, this landmark achievement was announced on the sidelines of the recent visit of a high-level Bahraini delegation to India this week, which was organized to highlight investment opportunities in Bahrain across priority sectors.

Part of the billion dollar Tata Group, Titan is the world’s fifth largest wristwatch manufacturer widely known for transforming the industry in India. Titan operates several companies including Tanishq, India’s leading and fastest growing luxury jewelry brand.

With an expected total investment of around US$30 million, Titan is poised to launch Tanishq in Bahrain, with the support of a franchise partner from India.

Tanishq, India’s most iconic jewelery brand from the TATA Group, has been synonymous with superior craftsmanship, exclusive designs, unparalleled customer service, and guaranteed product quality for over two decades. At Tanishq, jewelry is not just a product, it is a manifestation of art, and our exquisite collection of gold and diamond jewelry strikes the perfect balance between traditional charm and contemporary appeal. With designs that embody beauty and celebrate special occasions, Tanishq aims to be an integral part of every woman’s journey. Underlining this commitment towards excellence, in 2019, Tanishq was awarded the title of India’s Most Trusted Jewelery Brand by Trust Research Advisory. Tanishq currently has 410 stores and is the most trusted jewelry brand in India with very high brand recall.

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Mr. Naresh Nair, Chief Operating Officer of Tanishk said, “With the level of support and agility of the Government of Bahrain, they have made it very easy for us to establish our operations in Bahrain. We are looking forward to bringing our flagship brands and products to Bahrain. We have located our first store and are going to open 3 retail outlets over a period of 15 months to 18 months.”

As for Aerolam Middle East, it is a subsidiary of Aerolam Insulations from India. This marks the first offshore manufacturing unit to specialize in the production of insulation materials in the likes of foam board and crosslinked polyethylene tubing, meticulously designed with cutting edge engineering and advanced R&D teams. With an investment of US$14.5 million, the factory will operate out of the Bahrain International Investment Park (BIIP).

Brijesh Patel – Managing Director, Aerolam Insulations Pvt. Ltd., “We have benefited from the active support of the Government of Bahrain and are looking forward to setting up our first manufacturing unit outside of Gujarat, India. Bahrain was a natural choice due to its central location and advanced logistical infrastructure, which enabled us to meet the needs of the GCC countries from Bahrain more quickly and efficiently.”

Commenting on the strong investments, Ali Al Mudhaifa, Head of Business Development at the Bahrain Economic Development Board, said: “We are pleased to see such pioneering companies established in Bahrain and benefit from the key advantages that the Kingdom uniquely enjoys. With Bahrain’s business-friendly environment and infrastructure With advanced logistics, we expect the two companies to establish a strong foothold in Bahrain, in addition to diversifying our economy and benefiting from Bahrain as a gateway to the region.”

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With strong bilateral ties, India consistently ranks as one of Bahrain’s top 10 trading partners. Trade volume between India and Bahrain has increased by 30% since 2018, reaching US$1.4 billion in 2022. Focusing on key sectors, including financial services, ICT, logistics, manufacturing, and tourism, the EDB has succeeded in Bahrain in attracting more than 1.1 billion US dollars. In foreign direct investment from many companies around the world in 2022, which is expected to create more than 6,300 jobs in the local market over the next three years.

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