PRISM, January 2014

Vol. 1, No. 4, January 2014

A CII Bi-Monthly Journal on India – Gulf & MEWANA Bilateral Ties

EMERGING
OPPORTUNITIES

Building Blocks For India-Gulf & MEWANA
Partnerships

FOCUS: INDIA-BAHRAIN PARTERNERSHIP

PRESIDENT’S MESSAGE

Multilateralism
Matters


T

January 2014

2

he new multilateralism that we are
witnessing is far more inclusive
than the earlier versions of
multilateralism, architected mainly by
the developed countries. Emerging
and developing nations across
Asia, Africa and Latin America &
Caribbean (LAC) are playing a key
role in defining the new rules governing
multilateralism. Outcomes of the recent
Bali Ministerial are a testament to this
emerging paradigm.
At the Ministerial, the developing
world
successfully
steered
the
conclusion of major agreements on
public stockholding for food security,
and trade facilitation. Even so, two other
major global trade issues need to be
addressed – Non-Agricultural Market
Access (NAMA) and Trade in Services
– to facilitate a successful conclusion
of the Doha Development Round. What
is most gratifying is that India and the
Gulf and MEWANA countries share a
common view on each of these critical
global trade issues, and are acting
in consort to usher in a transparent,
equitable, multilateral global trade
regime under the WTO.
The renewed focus on multilateralism
should not lead us into believing that
regionalism is a diminishing reality. Rather,
regionalism has intensified around the
world with most countries entering into
regional free trade agreements (FTAs)
and other regional economic pacts
to protect their respective industries
from intense competition. India and

the Gulf & MEWANA countries are all
signatories to many such agreements.
What is important is that these regional
agreements
should
increasingly
function as building blocks for the new
multilateralism in the making. And the
multilateral institutions in turn should
take note of the real aspirations
of all regions while enforcing the
ground rules.
India’s engagement with regional
bodies like the Gulf Cooperation
Council (GCC) is therefore not limited to
furthering bilateral trade and investment
flows. In fact, these engagements now
have a major bearing on global trade
and investment patterns and policies.
Hence, it is important that India and
Gulf & MEWANA countries sustain the
focus on multilateralism in their bilateral
cooperation endeavours.
Multilateralism will provide the
necessary impetus to manufacturing
growth in both regions, and also
strengthen
our
manufacturing
competitiveness, which is vital for the
long-term sustainability of both Indian
and Gulf & MEWANA economies. Today,
as the emerging economies become
the most attractive destination
for global investments, it indeed a
multilateral, rule-based trade regime
that will give our industries access to
new and bigger markets.
S Gopalakrishnan
President, CII

FROM THE CHAIRMAN’S DESK

Mr Essam Abdullah Fakhro, Chairman
of the Bahrain Chamber of Commerce
& Industry, said that many Indian
businesses have already established
their footprint in the country. Many
of them successfully collaborate with
Bahraini companies.
Bahrain has the most liberal tax
regime in the Gulf (according to
the latest Ernst & Young Worldwide
Corporate Tax Report 2013). The
country is also considered as the freest
economy in the Arab World for 20
consecutive years (according to The
Wall Street Journal Index of Economic
Freedom 2014). In addition, companies
established in Bahrain are allowed to
have 100% foreign ownership. Bahrain
has also initiated agreements for
Avoidance of Double Taxation with 37
countries and Investment Protection and
Promotion agreements with 29 countries.
This edition also underscores the
significance of India and the UAE
concluding the much awaited Bilateral
Investment Promotion and Protection
Agreement (BIPPA). The agreement
promises to significantly boost UAE
investments in Indian infrastructure
projects and will help enhance investor
confidence and ensure protection of
bilateral investments.
We have also focused attention on
the key factors that attract ICT firms
to the Gulf & MEWANA region. I hope
that you will enjoy reading the articles
presented in this edition.
K K M Kutty
Chairman, CII Gulf & MEWANA
Committee

3
January 2014

I

ndia’s engagement with the Gulf &
MEWANA countries will intensify in
the coming years as countries in the
region step up their diversification
and modernisation efforts. According
to HSBC's latest trade forecast report,
India will remain a top five trading
corridor for the UAE, Egypt and Saudi
Arabia. By 2030, the country will be
the UAE's top export destination
accounting for 14% of exports, and
Saudi Arabia's second largest export
destination accounting for 18.5%
of exports. India is already Egypt's
number one export destination and will
maintain that position through to 2030,
accounting for 15.4% of exports.
Indian investments in the Gulf &
MEWANA countries are also rising
appreciably, not just in traditional
sectors like physical infrastructure
but also in emerging sectors like
IT and renewable. To illustrate the
new investment opportunities in the
region, the Mena Solar Energy Report
2014, published by MEED Insight in
association with the Middle East Solar
Industry Association (MESIA), states
that the region could see more than
$50 billion worth of investment in its
solar power sector by 2020 as regional
governments push for the adoption of
clean energy and take advantage of
the region's high solar irradiation levels.
This edition of Prism brings forth
the emerging opportunities for Indian
companies in the Gulf & MEWANA region.
We have also directed particular
focus on India’s engagements with
Bahrain. Speaking at the CII Partnership
Summit held in January in Bangalore,


Leveraging New
Opportunities

DIRECTOR GENERAL’S MESSAGE

Attracting
Investments

I

January 2014

4

ndia is a key investment destination
for Gulf & MEWANA government
bodies and corporate entities. India’s
relative economic stability in the face
of a global economic slowdown is
one major factor that has enhanced
its attractiveness to global investors.
In recent years, oil-producing Gulf
countries have been weighing the
option of using their sovereign funds
to leverage the emerging investment
opportunities in India, especially in the
physical infrastructure space where
India requires investments in excess
of $1 trillion by 2018 to bridge its
infrastructure deficit.
Some of the Gulf countries have
already accelerated their investments
in India. For instance, the Kuwait
Investment Authority has invested
about $1.5 billion in India in the
past two years as part of its plan to
invest about $10 billion in the country.
The UAE has pledged $2 billion of
investments in Indian infrastructure
sector. Saudi Arabia does not have
a sovereign wealth fund but Saudi
private investments in India are growing
at an appreciable pace. Other West
Asian countries are also considering
big investments in sectors such as oil &
gas, power, roads, fertilisers and tourism.
Real estate in particular has
attracted significant investments from
the Gulf region. Sovereign wealth
funds and other long-term investors
are eyeing opportunities in India's

real estate sector. Reports say that
Abu Dhabi Investment Authority (ADIA)
is planning to invest about $200
million in Indian real estate. Likewise,
Oman's State General Reserve Fund
along with Government of Singapore
Investment Corp (GIC) and Temasek
has committed to invest $200 million in
an Indian real estate fund.
To accelerate the investment inflows
from the Gulf & MEWANA region, India
is taking key policy steps and reaching
out to different countries to showcase its
economic strengths and growth areas.
In December 2013, India concluded the
much anticipated Bilateral Investment
Promotion and Protection Agreement
(BIPPA) with the UAE, which is seen as
a step toward firming up a free trade
agreement with the GCC. At the
same time, Government of India has
deepened the cooperation with North
African economies. Mr Salman Khurshid,
Minister of External Affairs, Government of
India, recently visited Morocco, Tunisia
and Sudan to strengthen the bilateral
economies ties with these countries.
Current trends point to the
possibility of a quantum jump in
investments inflows from Gulf & MEWANA
investments. CII is committed to the
task of deepening the business and
economic ties between India and the
Gulf & MEWANA countries.
Chandrajit Banerjee
Director-General CII

NEWS IN BRIEF

India, Saudi Arabia call for deeper
bilateral coop
India and Saudi Arabia discussed
avenues for enhancing bilateral
cooperation in a meeting between

Mr P Chidambaram, Finance Minister,
Government of India and Saudi
Arabia's Second Deputy Premier,
Prince Muqrin bin Abdulaziz Al Saud
during the Indian minister’s visit to the
Gulf country in January,
Prince Muqrin, who is also advisor
and special envoy of the Custodian
of the Two Holy Mosques, King
Abdullah bin Abdulaziz, received Mr
Chidambaram and his accompanying
delegation at his palace and, at
the outset, commended the strong
relations between Saudi Arabia and
India in various fields. During the
meeting, both sides discussed ways
of enhancing bilateral cooperation,
particularly in the fields of commercial
and industrial exchanges.
The meeting was also attended by
Saudi Arabia's Minister of Commerce
and Industry, Mr Tawfiq bin Fawzan AlRabiah, Saudi Ambassador to India
Saud Al-Sati and India's Ambassador
to Saudi Arabia, Mr Hamid Ali Rao.
India-Saudi
Arabia
trade
relations have witnessed steady
and remarkable growth in the last
few years. Saudi Arabia is India's
fourth largest trade partner and
the bilateral trade stood at $43.19

billion in 2012-13.
Saudi Arabia is also India's largest
supplier of crude oil, accounting for
17% of the country's requirements, and
is one of the major markets in the world
for Indian exports. Saudi Arabia is
destination to more than 1.86% of India's
global exports and is also the source
of 6.35% of India's global imports. India
also has a double taxation avoidance
treaty with Saudi Arabia.
Several Indian companies have
established collaborations with Saudi
companies and are working in the
Kingdom in the areas of designing,
consultancy, financial services and
software development.
Dubai to host Global Gem and
Jewellery Fair in March
Dubai Multi Commodities Centre
(DMCC) and the Gem & Jewellery
Export Promotion Council (GJEPC)
India will host the Global Gem &
Jewellery Fair (GGJF) during March
20-22
this year. With over 130
exhibitors participating from India
and the GCC, the Global Gem &
Jewellery Fair will provide an ideal
platform for international buyers and
sellers as they seek to trade top

5
January 2014

I

ndia and the UAE have deepened
the bilateral cooperation for
renewable energy development.
Mr Farooq Abdullah, Minister
of New and Renewable Energy,
Government of India, and Sultan
Ahmed Al Jaber, Minister of State
and the UAE's special envoy for
energy and climate change, signed
a Memorandum of Understanding
(MoU) for cooperation in these areas
in Abu Dhabi in January this year.
Both the countries also agreed to
form a Joint Working Group for better
coordination through joint research
on subjects of mutual interest,
exchange and training of scientific
and technical personnel, exchange of
available scientific and technologies
information and data. India and UAE
have also agreed to cooperate in
organising workshops, seminars and
working groups, transfer of know-how,
technology and equipment, on noncommercial basis.


India-UAE sign MoU for
renewable development


NEWS IN BRIEF

January 2014

6

quality gems and couture jewellery
during the three-day event.
The fair will see visitors from
across the globe including GCC,
KSA, Egypt, Lebanon, Bangladesh,
Singapore, Eastern Europe, Russia,
South Africa, Sri Lanka, Turkey,
Pakistan and Malaysia. Mr Pankaj
Parekh, Vice-Chairman, GJEPC, has
said that India's central role as the
sourcing centre for diamonds and
precious stones jewellery is renowned
worldwide. India is a world leader
in production of cut and polished
diamonds, emeralds and tanzanites.
India invites Kuwaiti investments in
LNG terminals
India has urged Kuwait to invest
in the upcoming LNG terminals in
the Western and Easter coasts in
Visakhapatnam in Andhra Pradesh,
Mangalore, and Pudur in Karnataka.

This offer was made by Mr Veraapa
Moily, Petroleum and Natural Gas
Minister, Government of India, to a
visiting Kuwaiti delegation led by
Kuwait Petroleum Corporation (KPC)
head Mr Nizar al-Adsani. Mr Moily
impressed upon the KPC delegation
that India was making huge investments
in setting up around a dozen-odd LNG
terminals and it would certainly look
towards investments by Kuwait in them.
Kuwati bank sponsors Indian
doctors’ initiative
Kuwait's Burgan Bank has, as
per recent reports, sponsored an
initiative by Indian doctors to
educate the public on latest medical
enhancements in the Gulf country.
The bank's support to the annual
Indian Doctors Forum Mega Cultural
Event in launching a new IDF Health
Guide for the third consecutive year
reflects its mission to facilitate public
awareness on medicine. The health
guide, published under a theme
'Imaging - The Eye of Medicine' this
year, contains 38 articles on various

imaging modalities used in hospital for
diagnosis and treatment of diseases.
The Indian Doctors Forum, an
organisation of Indian doctors
residing and working across various
fields of medicine in Kuwait, is a
registered body with the Indian
Embassy which is affiliated to
the Kuwait Medical Association,
and is one of the largest Indian
organisations in Kuwait. Around 700
Indian doctors practice various kinds
of medicine in Kuwait.
‘India-Qatar ties deepening’
Indian Ambassador to Qatar, Mr
Sanjiv Arora, has been quoted in Gulf
Times as saying that the multi-faceted
cooperation between India and
Qatar within the excellent framework
provided by historic ties and regular
and substantive engagements have
benefited both the countries. “The

government of India and its people
greatly admire the strides being made
by Qatar in education, research and
innovation; infrastructure; business,
finance and investments; sports, arts
and culture; and other spheres and are
keen to expand collaborations to the
mutual benefit of both sides. Besides
official interactions, people-to-people
contacts and initiatives by (the) private
sector are galvanising dialogue and
co-operation in various sectors,” the
ambassador said in his statement.
He added: “Our people greatly
value Qatar’s vital partnership with
our country in the energy sector
as Qatar is the largest supplier of
LNG to India. There is a large and
expanding market for Qatar’s LNG, oil
and petrochemical sectors in India.”
India-Sudan trade poised to scale
$1bn level
India sees two-way trade with
Sudan reaching $1 billion. External
Affairs Minister, Mr Salman Khurshid
told reporters after talks with his
Sudanese counterpart Mr Ali Ahmed

Karti in Khartoum: “Our trade figures
are expected to reach close to $1
billion by the end of the financial year
2013-14”. The value of two-way trade
between the two countries reached
about $888 million in the financial year
ended March 31, 2013. The two sides
discussed cooperation in manufacturing
and agriculture, Khurshid said.
India,
Morocco
to
diversify
economic ties
India and Morocco have identified
pharmaceuticals,
agriculture,
automobiles and renewable energy
as new areas of collaboration to
boost their economic relationship.
Mr Salman Khurshid, External Affairs
Minister,
Government
of
India,
during his visit to Morocco, met his
counterpart Mr Salaheddine Mezouar
and exchanged views on regional
and global issues of common concern,

including international terrorism.
The two sides agreed that their
foreign office consultations would be
held later this year. Mr Khurshid extended
an invitation to Mezouar to visit India
at a mutually convenient date. He said
after his meeting with Mr Mezouar that
the two countries explored ways and
means of diversifying their "phosphatecentric" economic and commercial
relations which have an "immense
untapped potential".
"To further boost economic
cooperation, we have also identified
new areas of collaboration such
as
pharmaceuticals,
agriculture,
automobiles and renewable energy,"
he said.
Khurshid said India and Morocco
have deep-rooted historical links from
the days of the famous Moroccan
traveller Ibn Batuta in the 14th century
and the ties had strengthened since
diplomatic relations were established
in 1957. "Our bilateral relations are
warm and cordial. There are hardly
any areas of divergence of views on
bilateral relations," he said.

PARTNERSHIPS

Emerging Opportunities

"The prospect of Expo 2020 in Dubai
and other infrastructure projects in the
region offer excellent opportunities for
MENA businesses to bring the chance
to benefit from India's know-how into
the region with new partnerships. India's
strength in industrial and information
technology can also help the
businesses support the region's political
programme of economic diversification,"
Mr Reid added.
As per the data released by
the Department of Commerce,
Government of India, India’s foreign
trade from April to November 2013
with North African countries (Egypt,
Algeria, Sudan, Morocco, Libya,
Tunisia and Canary Island) was $3.4
billion while it was $31.8 billion with
Middle Eastern countries (UAE, Saudi
Arabia, Oman, Kuwait, Bahrain and
Qatar) during the same period.
Key Destinations
HSBC's latest

trade

forecast

report says that India, which remains
among the top five trading corridors
for the UAE, Egypt and Saudi Arabia,
is all set to become the top export
destination for the Middle East and
North African countries by 2030.
By 2030, the country will be the UAE's
top export destination accounting for
14% of exports, and Saudi Arabia's
second largest export destination
accounting for 18.5% of exports.
The report says that India was
already Egypt's number one export
destination and would maintain that
position through to 2030, accounting
for 15.4% exports. Indian companies
too have huge opportunities in terms of
investment in the Gulf & MEWANA region.
India’s engagements with the
region at the country level illustrate
the growing bilateral partnerships.
Take the case of the UAE.
The UAE is diversifying away
from mineral manufactures and
is investing heavily in its physical

7
January 2014

T

he Gulf & MEWANA (Middle
East, West Asia & North Africa)
region is heterogeneous with
different socio-economic and
political characteristics, yet
the similarities are many. Now, as in
the past, oil provides the basis for
economic growth, either directly in oilproducing countries or indirectly in
the rest of the region through stateled economic development policies.
India is a predominant trade
partner to the Gulf & MEWANA
countries. “India and the MENA
(Middle East & North Africa)
nations have been trading for many
centuries and the opportunities
certainly remain strong today. It's
no surprise that India is a top five
trading partner with each nation
in the MENA group," said Mr Tim
Reid, Regional Head of Commercial
Banking of HSBC, while addressing
the MENA-India Conference held in
Dubai in October 2013.


Economic diversification of the Gulf & MEWANA countries is creating a swathe
of business opportunities for Indian companies in the region


PARTNERSHIPS
infrastructure sector. Hence, growth
in imports of goods for infrastructure
and investment equipment from India
will significantly outstrip growth in
other imports during 2013-30, says
the HSBC report. The UAE has also
pledged $2 billion of investments in
Indian infrastructure sector. Besides,
the country is India's largest export
market, accounting for just over 10%
of total merchandise exports. The
Emirates is forecast to maintain this
preeminent position out to 2030 due
to robust demand growth.
Important Indian exports to the
UAE include gems and jewellery,
electronic goods, fabrics, machinery
and equipment. India also uses the

infrastructure spending and boosting
growth potential, as seen in its latest
Economic Plan. India's exports to
Saudi were just 2.9% of total exports
in 2012.
This share is expected to increase
to 4% by 2030, ranking it India's
fourth largest export destination. The
main contributors to this increase will
be in the sectors of manufacturing,
machinery and transport, and
chemicals. Saudi Arabia's commitment
to industrialisation and diversification
will also offer opportunities to
Indian investors.
In the North African region, India
has been Egypt's second biggest
export market after the US with 9%

biggest contributors to the increase
will be machinery & transport
equipment
and
manufactures,
together accounting for over 70% of
this increase.
Recently, India’s External Affairs
Minister, Mr Salman Khurshid was on a
three-nation tour of natural-resources
rich North African countries – Morocco,
Tunisia and Sudan. According to
media reports, during a meeting
with his Moroccan counterpart Mr
Salaheddin Mezouar, India and
Morocco explored ways and means
of diversifying their phosphatecentric economic and commercial
relations which Mr Khurshid said "have
an immense untapped potential". The

UAE as a gateway to other markets in
the region, with many Indian exports
transshipped from the UAE onto other
countries in the Gulf, South-East Asia
and East Africa.
Saudi Arabia is another major
bilateral economic partner of India.
An HSBC report said that in 2012,
approximately 25% of Saudi Arabian
exports to India comprised oil & gas.
Diversification means that the biggest
growth in exports to India will be in
chemicals, which will account for over
80% of total exports from Saudi to
India between 2013 and 2030.
There will also be strong growth
in exports of infrastructure goods
as India focuses on increasing its

of all exports in 2012. Egypt's less
developed economy and industrial
base means it has less scope to
benefit from India's fast-growing
economy and demand for a rapid
modernisation in its infrastructure.
Nevertheless, investment equipment
exports to India are forecast to grow
at a double-digit annual rate in
the years to 2030. Fastest-growing
export sectors will be manufactures,
chemicals and mineral fuels, which
together will account for some 85% of
the increase in exports from Egypt to
India between 2013 and 2030.
India will represent one of the
fastest growing import sources for
Egypt between 2013 and 2030. The

two countries also decided to boost
bilateral economic cooperation
in
areas
like
pharmaceuticals,
agriculture and renewable energy
besides holding Foreign Office
Consultations later this year.
Morocco is an important partner
in India's quest for food security due
to significant imports of phosphate
from there. A lot of phosphoric acid
and rock phosphate from Morocco
are sourced to India for use in the
fertiliser industry which helps India's
agriculture sector.
To further boost economic
cooperation, the two sides also
identified new areas of collaboration
such as pharmaceuticals, agriculture,

January 2014

8

PARTNERSHIPS
to the people of Sudan.”
Tunisia was another country with
whom Mr Khurshid held talks during his
North African tour. India and Tunisia
traditionally enjoy cordial and
friendly relations. The two countries
also share common views on regional
and international issues. In the trade
and investment sector, India would like
to diversify the bilateral relationship
through increase in exchanges and
joint ventures in pharmaceuticals,
auto industry, software, olive oil,

Prime Minister, Mr Abdelilah Benkirane.
Two MoUs concerning cooperation
in marine fisheries and environment
protection were also signed between
the two countries.
Mr Khurshid said that India
would be happy to share its
developmental experience and
expertise with friendly developing
countries like Morocco. He was
quoted saying: "We have proposed
the setting up of an Information
and Communication Technology
(ICT) centre in Morocco, and we
are happy that your government
has accepted this proposal. We are
working to see that this project is
implemented at the earliest."
"India will also be pleased to offer
additional slots and scholarships
to Morocco for training and higher
education under various schemes of
the Government of India," he added.
India has also stepped up its
engagements with Sudan. Mr Khurshid
during his visit to this North African
country said: “India and Sudan
enjoy an active relationship in both
political and economic terms. Our
bilateral trade figures are expected
to reach a figure of close to $1
billion by the time we end the Indian
financial year of 2013-14. There

close to $ 2.8-3.0 billion. While some
of these have come here directly,
others have come through their own
companies in third countries.”
India has been playing a key
role in Sudan’s developmental
initiatives, in areas like human
resources development, infrastructure
development and industrial processes.
“Institution building is an important
part for capacity enhancement
and, in this respect, we are currently
engaged in setting up of an English
language training centre in Khartoum
and a vocational training centre
in Ad-Damar. Earlier, we set up an
e-learning center in Khartoum, which
has attracted attention of end-users,”
the minister added.
“In
our
efforts
concerning
infrastructure development in Sudan,
one of the larger projects underway
is the Kosti-based power plant with
an installed capacity of 500MW. We
are also engaged in construction
and commissioning of a sugar plant
at Mashkour and hope that it will be
able to contribute to export of sugar
from Sudan to earn valuable foreign
currency. Many similar projects in
infrastructure and industrial sectors
were completed earlier and have
seen their worth in providing benefits

tourism and hospitality, and textiles.
Mr Khurshid said during his visit
to Tunisia that “India and Tunisia
are already long-standing partners
in the field of phosphatic fertilisers.
I am happy that our joint venture
in phosphates, Tifert SA worth $450
million, is functioning well and I
look forward to a sustainable
production of this plant. I am also
encouraged that in October
last year Mahindra & Mahindra
established an assembly plant
for production of pickup trucks at
Sousse with their Tunisian partner
Medicars
providing
technical
support. Additionally, we have set
up Joint Working Groups in the key
fields of science & technology (S&T),
information technology, small and
medium enterprises, oil & natural
gas as well as pharmaceuticals
which are meeting regularly.”
Importantly, India has partnered
with Tunisia under the India Africa
Forum Summit (IAFS) platform for
enhanced cooperation on capacity
building, education and S&T. A
twinning programme between the
Pasteur Institute of Tunisia and the
International Centre for Genetic
Engineering and Biotechnology in
India has been agreed upon for


exist a number of complementarities
in bilateral trade and we need to
utilise them for further deepening of
our economic engagement.”
He said that Indian businesses
are very active and are investing
abroad in a significantly large
number. “They are present in Sudan
in sectors such as energy, retail
marketing,
mining,
agriculture,
pharmaceuticals, etc. The sum total
of all these investments would be
appreciable and in the range of

9
January 2014

automobiles
and
renewable
energy. They also exchanged views
on regional and global issues
of common concern, including
international terrorism.
"India and Morocco have deeprooted historical links from the days
of the famous Moroccan traveller Ibn
Batuta in the 14th century. Since the
establishment of diplomatic relations
in 1957, these ties have become
multifaceted and stronger,” he said.
Mr Khurshid also met Moroccan

PARTNERSHIPS
cooperation in specific training
programmes in the areas of
biochemical sciences.


Indian
Companies:
Deepening
Footprints
In the last few years, Indian
companies have created significant
goodwill in this region. While
Kirloskar is a household name in
many North African countries, roads
of many capital cities in the region

January 2014

10

are dotted with billboards of Tata,
Bharti (Airtel), Reliance, Godrej,
Karuturi, Birla, Jindals, State Bank of
India, Bank of Baroda and ONGC
Videsh in countries like Sudan.
Recently, software major Tech
Mahindra reported a significant
growth in revenues from the Middle
East and North African (MENA)
region, including Turkey, for the third
quarter that ended December 31,
2013. The consolidated financial
results were announced as part of
the company's global third quarter
financial results. The total revenue
of Tech Mahindra's MENA business
was up 50% as compared to the
same period in the previous year, the
company said.
Today, Tech Mahindra's pipeline
of project opportunities in the MENA
region exceeds $350 million. The
company is currently engaged in
more than 50 important projects in
the region.
"Our robust performance in the
MENA region comes on the back
of a rising demand for quality and
innovative tech services. We are
witnessing a trend where regional
and global majors and public
bodies, are all seeking tailor made
IT solutions and not just off-theshelf applications", Mr G B Kumar,
Vice President and Geo Head Middle East, Africa and Turkey, Tech

Mahindra, was quoted as saying by
the Economic Times.
The growth is also the result of
the company's focus on non-linear
growth engines in the MENA region,
which also shows the possibilities
of joint venture, acquisitions
and business value consulting,
he added.
Emerging Opportunities
According to the Mena Solar

cash on delivery payments, and
low consumer acceptance of online
shopping, compared to international
benchmarks.
e-Commerce is growing in the
UAE at a rate of over 20% annually
off increasing Internet and mobile
coverage, while store-based retail
is affected by high real estate
prices. Over 80% of the population
is Internet savvy, and of this number
over 15% shop online; below 10% do

Energy Report 2014, published by
MEED Insight in association with the
Middle East Solar Industry Association
(MESIA), the region could see more
than $50 billion worth of investment
in its solar power sector by 2020 as
regional governments push for the
adoption of clean energy and take
advantage of the region's high solar
irradiation levels.
“Up to 37,000MW of new solar,
wind and hydroelectric projects are
planned to be commissioned by the
end of the decade, of which between
12,000MW and 15,000MW will be
sourced from solar energy projects
specifically,” the report states.
Hamburg-based
secondary
research
company
yStats.com
has released a new report on
B2C E-Commerce. The “MENA B2C
E-Commerce Report 2014” indicates
that Middle East and Northern
Africa are among the most dynamic
regions in global e-Commerce,
with still more growth expected in
coming years.
According to the findings of this
report, B2C e-Commerce presently
accounts for less than 1% of total
retail sales in the region, as there
are obstacles to overcome to
prepare the way for the boom. These
obstacles include the low adoption
of the online retail channel by local
businesses, the predominance of

so on mobile devices.
B2C e-Commerce is burgeoning
also in Saudi Arabia, though largely
restricted to sales of clothing,
electronics, appliances and travel
booking. Annual growth reaching
almost 40% between 2012 and 2015
is expected.
Currently, half of the Egyptian
population has access to the
Internet shops online. As Internet and
mobile penetration increase in Egypt,
the potential of B2C e-Commerce
will be enhanced. Mass merchants
Souq.com and Jumia.com were the
leading e-Commerce websites in
Egypt by audience reach, followed
by international players Alibaba
and Amazon. In Morocco, B2C
sales in the first three quarters of
2013 have already passed the
transaction total for 2012. The
number of online shoppers reached
over 0.3 million last year, as per
reports.
As the Gulf & MEWANA countries
press
ahead
with
economic
diversification and developmental
initiatives,
new
business
opportunities are being created for
overseas companies, especially from
India. The cultural contiguity and
shared history and international
understanding will greatly aid
businesses from both sides to cement
long-term partnerships.

FOCUS

Bahrain Sharpens India Focus

B

ahrain offers huge investment
opportunities
for
Indian
companies. Stating this in his
address at the ‘Focus Country
Networking
Session:
Advantage
Bahrain’ on Day 2 of CII Partnership
Summit organised in Bangalore, Mr
Essam Abdullah Fakhro, Chairman of
the Bahrain Chamber of Commerce
& Industry, said that many Indian
businesses have already established
their footprint in the country. Many
of them successfully collaborate with
Bahraini companies. Indian business
majors like Tata Group, ICICI Bank, SBI
and many more have already set up
their business in Bahrain.
Mr Fakhro said the principal
reasons for international partners’
success primarily lie in Bahrain’s
loyalty towards them. As statistics
reveal, Bahrain has the most liberal
tax regime in the Gulf (according to
the latest Ernst & Young Worldwide
Corporate Tax Report 2013). The
country is also considered as the
freest economy in the Arab World
for 20 consecutive years (according
to The Wall Street Journal Index of
Economic Freedom 2014). In addition
companies established in Bahrain
are allowed to have 100% foreign

ownership. Bahrain has also initiated
agreements for Avoidance of Double
Taxation with 37 countries and
Investment Protection and Promotion
agreements with 29 countries.
Mr Fakhro said that Bahrain
is continuously creating the best
commercial environment that can

lead to long-term and fruitful
relationships with foreign partners.
In particular the ratification of the
US-Bahrain FTA signed in 2006 can
serve as the best example of such
beneficial collaboration. It offers
opportunities, eliminates tariffs and
trade barriers with 96% financial,
industrial, services and agricultural
duty exemption; tax-free benefits for
textiles and garments; 0% export duty
on products manufactured in Bahrain;

0% import customs duty on factory
raw materials and machinery.
Bahrain also enjoys a strategic
location
in
global
economic
environment – lying at the heart of
the Arabian Gulf. Bahrain has fast
and efficient access to every market
in the Middle East by air, sea and
road. Strategically located between
two largest markets of Saudi Arabia
and Qatar, Bahrain continues to
attract foreign investment across
a broad range of sectors: from
manufacturing to the financial sector.
Efficient transportation of goods is
provided by the country’s modern
and functional infrastructure. It is
represented in underpasses and
flyovers over junctions along the main
transport routes of Bahrain.
Ms Vivian Jamal, Executive Director,
Economic Development Board of
Bahrain, emphasised the fact that
Bahrain is honoured to have bi-lingual
highly skilled and educated workforce.
2/3rd of financial services workforce is
Bahrainis. This, Ms Jamal believes, is a
key advantage when accessing other
GCC markets. It would also reduce
the overall staff costs.
Ms Jamal stated that Bahrain
is a very cosmopolitan country. The

11
January 2014

Dr Essam Fakhro, Chairman of the Bahrain Chamber of Commerce & Industry, addressing the audience at the
Special Session on Bahrain at the CII Partnership Summit 2014


The Kingdom is taking major steps to boost bilateral economic and business
ties with India


FOCUS

January 2014

12

kingdom aims to support the growth
and diversification of Bahrain’s
economy by developing a strategy
that encourages inward investments
and boosts competitiveness in the
global market place.
In another session on ‘Emergence
of New Mega Trading Blocks and
their Impact on Global Trade’,
Mr Kamal Bin Ahmed Mohammed,
Minister of Transportation & Acting
Chief
Executive
of
Economic
Development Board, Bahrain, said
that Bahrain is emerging as a
highly integrated market. He said
that connectivity is what will narrow
the chasm between different trade
blocks. Bridging these issues will
generate more jobs and more
companies will benefit from the
cooperation endeavours. It is

Bahrain, in particular the growing
trade
opportunities
for
Indian
businesses who can take advantage
of the fast growing GCC market,
currently worth $1.5 trillion.
The discussion demonstrated
commitment from both countries to
continue to build on and strengthen
the economic partnership, he said.
Bilateral Trade
India’s total trade (non-oil) with
Bahrain for the fiscal year 201213 stood at $1.3 billion. India’s top
five non-oil exports to Bahrain are
(i) inorganic chemicals, organic or
inorganic compounds of precious
metals, or rare earth metals or radi,
elem or of isotopes; (ii) nuclear
reactors, boilers, machinery and
mechanical appliances; (iii) electrical

sq. km.) and in terms of population
(1.2 million), it has been a favourite
destination for Indian nationals
working as expatriates. The number
of Indian nationals has increased
over the years. The current estimate
of Indian expatriates in the island is
around 0.35 million.
Bilateral Agreements In Place
•
Agreement
between
the
Government of the Republic of
India and the Government of the
Kingdom of Bahrain for Exchange
of Information with respect to Taxes.
•
Memorandum of Understanding
between Government of the
Republic of India and Government
of the Kingdom of Bahrain on
Co-operation in the Field of
Information and communication

(L-R) Ms Vivian Jamal, Executive Director, Economic Development Board of Bahrain; Dr Essam Fakhro, Chairman, Bahrain Chamber
of Commerce Industry; Mr Kamal Bin Ahmed Mohammed, Minister of Transportation Acting Chief Executive of Economic
Development Board, Bahrain.
important to see the mega deals as
an opportunity to facilitate trade
negotiation at the global level.
India and Bahrain have a trading
relationship that stretches back
thousands of years, Mr Ahmed said.
Our
countries
are
highly
connected economically, with a large
number of Indian companies choosing
Bahrain as a base to access the
wider Gulf region, and culturally, with
around 300,000 Indians living and
working in the kingdom, he said.
Mr Kamal Ahmed, met Mr Anand
Sharma, Commerce and Industry
Minister, Government of India, on the
sidelines of the Partnership Summit.
According to news reports, the two
ministers discussed strengthening
bilateral relations between India and

machinery and equipment and
parts thereof, sound recorders and
reproducers, television image; (iv)
cereals; (v) vehicles other than
railway or tramway rolling stock, and
parts and accessories.
India main non-oil imports from
Bahrain are: (i) aluminium and articles;
(ii) ores, slag and ash; (iii) salt, sulphur,
earths and stone; plastering materials,
lime and cement; and (iv) fertilisers.
From April 2000 to December
2012, the cumulative investments from
Bahrain to India stood at $ 28.66
million. Wherein, Bahraini companies
have invested their money in sectors
like IT, healthcare, pharmaceuticals,
real estate and construction, etc.
While Bahrain is a small country
both geographically (a mere 712

Technology.
•
Memorandum of Understanding
on cooperation between Ministries
of Foreign Affairs
•
Agreement on Juridical and
Judicial Cooperation in Civil and
Commercial Matters
• Extradition Treaty
•
Agreement on Mutual Legal
Assistance in Criminal Matters and
Agreement on the Promotion and
Protection of Bilateral Investment
• Air Services Agreement
•
Executive
Programme
on
Cooperation in Culture
•
Agreement for Media Cooperation
between Prasar Bharati and
Bahrain Radio TV Corporation
•
MoU on Labour and Manpower
Development

TECHNOLOGY

ICT For Business
Development

in South East Asia, business process
outsourcing is at the forefront of ICT
services being provided, whereas in
the Middle East, slow deregulation of
the telecoms markets has stymied the
adoption of ICTs. Today, operators
in this region are in the process of
building their skills and they use
partnerships to achieve so.
Within the ICT space, demand
for cloud computing is growing at a
rapid pace across global markets.
The MEWANA region is no exception
to this. The main benefits of Cloudbased services are that they
provide enterprises with flexibility,
scalability and speed, as well as the
transformation of capex into opex.
Overall, ICT spending in the
Middle East will top US$96 billion
next year, according to a report from
the research firm IDC, as infrastructure
projects across the region spur the
need for new technologies.
Leaving aside the telecoms
sector, spending on IT projects will
exceed $32 billion across the GCC,
Iran, Iraq and Egypt. The region’s

spending will place it as one of the
top three fastest-growing IT markets
in the world, surging at a rate of
about 7.3% year-on-year, said IDC. It
is superseded only by Latin America
and Central Asia.
Public sector investments to
improve
government
services,
education and health care will be the
main drivers for growth. The numerous
smart-city projects in the GCC in
particular will increase machineto-machine connections by 19% to
reach $224 million, the report says.
Saudi Arabia is the region’s
biggest market, accounting for
almost $7 billion of spending, while
Qatar is one of the fastest-growing
markets. Egypt will also experience
a partial recovery, spending close
to $3 billion, although less than the
amounts spent in 2007 and 2008,
the report says.
The UAE’s spending will increase
by 4.5%, helped mostly by growth
in software and preparations for
Dubai Expo 2020, for which some
$8 billion in infrastructure projects

13
January 2014

G

l o b a l l y, i n fo r m a t i o n
communication
technologies (ICTs)
are being adopted
for efficient delivery of
public goods and transformation
of business organisations. ICTs
enable governments to deliver
basic services such as education
and
healthcare
to
different
segments of society including the
underserved, and improve the
transparency and accountability of
government agencies by switching
to eGovernance. Private enterprises
are also embracing ICTs to improve
their
customer
engagements,
drive innovations and raise their
productivity levels.
As the boundaries between
telecom and IT continue to blur, there
is an increasing interest in ICT, the
services falling in the intersection of
these two industries. The global ICT
market is estimated to be worth more
than $3 trillion. In emerging markets,
the ICT opportunity is at different
stages of development. For instance,

A CII Bi-Monthly Journal on India – Gulf MEWANA Bilateral Ties

As the Gulf MEWANA economies usher in ICTs to drive developmental
initiatives and private sector growth, Indian ICT companies can tap into the
investment and partnership opportunities in the region

TECHNOLOGY


have already been announced.
There is a bigger amount of focus
on smart city and the government is
leveraging health care, education,
transportation and smart economy
making significant investments around
upgrading infrastructures.
Reports say that in smart cities
such as Masdar City in Abu Dhabi
and Qatar’s Energy City, the
mobile platform will become the
prime focus. Technology including
contactless payment and near-field

January 2014

14

like healthcare, education, tourism,
etc. ICTs can reduce business costs,
promote transparent, rules-based
systems, and improve communication
between the public and private
enterprises. In Northern Africa, Tunisia
has adopted ICTs in a major way.
Countries like Morocco and Libya
are also moving in this direction.
Across the Gulf MEWANA region,
demand for healthcare ICT is growing
rapidly. Key companies dominating
this market space are CareFusion

Village’ outside Cairo is expected
to house 500 companies by 2014.
Qatar has formulated its National
ICT Plan 2015, to enhance digital
literacy and improve connectivity.
Kuwait, Bahrain and Qatar have
chalked out ambitious plans to attract
direct investments in ICT-related
areas. Countries like Jordan and
Egypt are coming up with domestic
software and hardware production
and can be competitive choices
for more traditional outsourcing

communication (NFC), which enables
the transfer of data wirelessly,
will begin to take hold.
There,
almost 40% of government services
are accessed online with a high
satisfaction rate, and that is set to
grow further as more government
applications are made available
online and on mobile.
ICT is also the fastest growing
sector in Jordan with an average
25% growth. The country has
attracted many global IT majors like
Cisco, Microsoft, Oracle, HP Yahoo!,
,
Intel, Motorola and Ericsson. Intel
Capital has invested in two Jordanbased ICT start ups — Jeeran, a webcommunity platform, and ShooFee TV.
Saudi Arabia, Kuwait, the UAE,
Oman, Qatar and Bahrain have
more than twice as many Internet
users per 100 inhabitants as nonGCC countries.
In the MENAWA region, large
investments have been made over
the last decade on ICT infrastructure
to promote good governance, and
to spur the development of sectors

Corp., Cerner Corp., Carestream
Health Inc., Philips Healthcare, GE
Healthcare Ltd, Siemens Healthcare,
ICT Health Technology Services, Dell
Healthcare and Life Sciences, 3M
Health Information Systems Inc., and
Toshiba Medical Systems Corp.
Telemedicine is gaining ground
in the Gulf MEWANA countries.
With the increasing adoption of
broadband services across the
region, bandwidth is no longer
a hindrance for the delivery of
telemedicine. Healthcare ICT market
in the MENA region is expected to
grow at a CAGR of 8.17% over the
period 2012-2016.
ICT majors around the world are
seeing new growth opportunities in
the Gulf MEWANA region, resulting
in more FDI inflows into this sector.
Over the past decade, ICT sector
has attracted 11.9% of the total
number of deals and 2.4% of foreign
capital invested in the Middle East.
In Northern Africa, Egypt already has
major players in the ICT space such
as IBM, Microsoft and Oracle. A ‘Smart

destinations such as India.
The Indian ICT sector continues
to be the ‘sunshine sector’ in India,
showing rapid growth and promise.
Indian ICT firms are held in high
repute world-wide, and service
suppliers offer high quality products
and services with state-of-the-art
technology. The Indian public sector
is a key catalyst for increased ICT
adoption through sectors reforms
that encourage ICT acceptance,
National eGovernance programs,
and the Unique Identification
Development Authority of India (UIDAI)
programme that will include the
whole Indian population of 1.2 billion
people. UIDAI will create the world’s
largest national ICT infrastructure,
and the system development involves
a large number if Indian ICT firms
which through this develop very
advanced products.
Leading Indian ICT companies
that are going global could
tap into the new investment and
partnership opportunities in the Gulf
MEWANA countries.

STRATEGY

A Safety Net Around Investments

its investment agreements.
The BIPPA with the UAE was put on
the fast track as the emirate insisted
on signing the agreement before any
fresh investments could flow into India
after some Gulf investors ran into
trouble. With the BIPPA now in place,
the Abu Dhabi Investment Authority
has lined up investments worth $2
billion that its representatives are
expected to finalise soon.
The UAE is the 10th largest
investor in India, the third largest
Asian economy, in terms of FDI. Both
nations are each other’s largest
trading partners with bilateral trade
totaling over $75 billion in 2012-13
fiscal. Khaleej Times reports that while
the UAE’s investments in India have
been just over $3 billion, investments
made by Indians in the Emirates are
estimated to be over $55 billion.
The India-UAE BIPPA will likely
open up the possibility of realising a
long delayed India-GCC Free Trade
Agreement, which has been under
negotiation for quite some time.
India has assured the UAE that
it would address and protect the
interest of Etisalat, DP World and
EMAAR, who are mired in problems
related to their investments in the
country. In his bilateral meeting with
UAE Minister of Economy, Sultan bin

Sayeed Al Mansouri, Commerce,
Mr Anand Sharma said: We will do
the best under the circumstances
to protect the legal interests of the
UAE investors, without violating any
judicial orders.
Sultan Bin Saeed Al Mansoori also
address the CII Partnership Summit
2014 in Bangalore where he said that
the UAE has the most liberal economy
and is signatory to various bilateral
trade agreements. The challenge
is maintain a balance between
the interest governing bilateral
agreements and the broad goals of
multilateralism. He said that the WTO
should have a framework for bringing
about an effective balance between
regionalism and multilateralism.
The UAE controls the second
largest Sovereign Wealth Fund in
the world (over $600 billion) under
the Abu Dhabi Investment Authority.
It has voiced keenness to explore
investments in major infrastructure
projects in India but was awaiting the
inking of the BIPA.
Figures released by the Indian
Business and Professional Forum
reveal that the UAE has investment
interests in India mainly through Emaar
and Etisalat while India has varied
investment in the UAE, exceeding
Dh200 billion.

15
January 2014

I

ndia and the UAE signed the
much awaited Bilateral Investment
Promotion and Protection Agreement
(BIPPA) in December 2013. The
agreement will help redefine the
investment and trade cooperation
between the two countries. The
accord promises to significantly boost
UAE investments in Indian infrastructure
projects and will help enhance investor
confidence and ensure protection of
bilateral investments.
Mr P Chidambaram, Finance
Minister, Government of India, and
UAE Minister of State for Financial
Affairs, Mr Obaid Humaid Al Tayer,
signed the treaty following a meeting
between Mr Salman Khurshid, Minister
for External Affairs, Government of
India, and UAE Foreign Minister, Shaikh
Abdullah bin Zayed Al Nahyan. With
this accord, India now has such
treaties with all GCC countries.
Under the treaty, investors will
be able to use only one of the
options available for judicial remedy
- domestic law or arbitration under
the United Nations Commission on
International Trade Law (Uncitral) or
the International Council of Societies
of Industrial Design (Icsid). The treaty
with UAE will be renegotiated in
2016, by which time India would
have introduced the new draft in all


The recently concluded India-UAE Bilateral Investment Promotion and
Protection Treaty is expected to accelerate bilateral investment flows in a
major way

FACTS FIGURES
India – Gulf MEWANA Bilateral Trade Flows (2012-13)
Country

Exports (2012-13)

% Growth (YoY)

Imports (2012-13)

% Growth (YoY)

Bahrain

603.47

37.16

664.66

(-)26.64

Kuwait

1,061.08

(-)10.19

16,588.13

0.90

Oman

2,599.49

96.61

2,009.72

(-)39.94

Qatar

687.18

(-)14.95

15,693.08

21.50

Saudi Arabia

9,787.78

72.18

33,998.11

6.85

UAE

36,316.65

1.09

39,138.36

6.48

Middle East West Asia
3,351.07

38.97

11,594.46

-15.92

Iraq


Iran

1,278.13

67.30

19,247.31

1.74

Jordan

1,000.57

21.86

942.28

-36.46

Lebanon

250.55

8.05

30.01

39.98

Syria

258.77

-51.78

80.37

-54.95

Yemen Republic

1,477.27

102.19

958.92

-1.22

Algeria

1,088.73

30.29

683.55

-67.63

Egypt

2,897.33

19.63

2,553.47

-14.95

Libya

215.30

253.07

1,834.80

4,687.03

Morocco

426.56

14.63

1,309.03

-21.07

Sudan

755.12

5.26

127.14

-70.49

Tunisia

298.79

4.61

215.34

30.95

North Africa

All figures in USD, Source: Ministry of Commerce, Govt of India

MEWANA - World Bank Ease of Doing Business Ranking 2013
GCC

GCC

Bahrain

46

Yemen Republic

133

Kuwait

104

North Africa

Oman

47

Algeria

153

Qatar

48

Egypt

128

Saudi Arabia

26

Libya

187

UAE

23

Middle East West Asia
152

Tunisia

51

Iraq

151

Jordan

119

Lebanon

January 2014

87
149

Iran

16

Morocco
Sudan

111

Syria

165

For further details please contact Mr Gurpal Singh, Confederation of Indian Industry (CII), 249-F, Sector 18, Udyog Vihar, Phase IV,
Gurgaon 122015, (Haryana, India); tel: +91(124) 4014060-67; Fax: +91(124)4014080; email: gurpal.singh@cii.in
Copyright 2014 by Confederation of Indian Industry (CII), All rights reserved.
DISCLAIMER: No part of this publication may be reproduced, stored in, or introduced into a retrieval system, or transmitted in any
form or by any means (electronic, mechanical, photocopying, recording or otherwise), without the prior written permission of the
copyright owner. CII has made every effort to ensure the accuracy of information presented in this document. However, neither CII
nor any of its office bearers or analysts or employees can be held responsible for any financial consequences arising out of the
use of information provided herein. However, in case of any discrepancy, error, etc., same may please be brought to the notice of
CII for appropriate corrections.

Published by Confederation of Indian Industry (CII), The Mantosh Sondhi Centre; 23, Institutional Area, Lodi Road, New Delhi-110003
(INDIA), Tel: +91-11-24629994-7,Fax: +91-11-24626149; Email: info@cii.in; Web: www.cii.in

BUSINESS INFORMATION
LIBYA


Under the Market Expansion Activities (MEA) Scheme of the Ministry of External Affairs, Government of India, the
India Mission to Libya had commissioned a report on pharmaceutical sector in the North African country which
appears to be a promising area of cooperation despite the fact that post-revolution Libya presents a hazy
picture and not so reliable statistical data in the absence of proper and functional institutions.

The report underscores several important dimensions that would be useful to India’s pharma and healthcare
industry. The Libyan pharmaceutical market has been estimated at $200-650 million and is largely provided for
by the western pharma companies.

Indian Ambassador to Libya, Mr Anil Trigunayat, has said in a note to the MEA that Indian pharma firms could
leverage the emerging opportunities in Libya that is fast opening up its economy to private players.
 order to bid for tenders for supply of pharma products to government hospitals and agencies, it is imperative
In
that the Indian companies have their local pharma partners who can scout for suitable opportunities in a
consistent manner.
 Anil Trigunayat has also recommended that Pharmexcil and other trade bodies should consider mounting
Mr
BSMs as well as participation in healthcare exhibitions in Libya to derive the maximum advantage of their
presence not only in Libya but in the whole of North African region.

The market assessment report provides the contact details of major pharma companies as well as registration
process etc. for the benefit of Indian pharma exporters.

EGYPT


New opportunities for Indian pharma firms in Libya


The Egyptian Railways Maintenance and Services Co (ERMAS) has floated a tender for the supply of electric
spare parts for locomotives (70 items). The tenders will be received until 12noon, February 26, 2014. For more
details, Contact: Egyptian Railways Maintenance and Services Co, Al Sabtia Street, Roud Al Farag, Cairo,
Egypt; Fax: +202-25761318; Ph: +202-25768035.

The Egyptian National Railways Purchase and Store Department has floated a tender for the supply of spare
parts for EMD locomotives (modelJT42CWRM Tyres 692). For more details, Contact Egyptian National Railways
Purchase and Store Department, Ministry of Transport, Egyptian National Railways (ENR), Purchase and
Store Department, Cairo, Egypt; Ph: +202-25761337.

Leading Egyptian company Zad Industrial Pharma has expressed its interest to do business with reliable Indian
companies in the field of agricultural/industrial/services. The company is seeking for project expansion/acquisition/
start-up. Place of factory and space: Block 131, Industrial Area, Attakka-North Suez Gulf-Suez (5,500m). For
more details, Contact: Embassy of the Arab Republic of Egypt, Commercial Bureau, 1/50 M, Nitibagh,
Chanakyapuri, New Delhi – 100021, India; Ph: +91-11-26873818; Fax: +91-11-26885922; Email:
newdelhi@ecs.gov.eg. Company contact information: Zad-pharma@yahoo.com; h.haroun@zadpharma.
com; Fax: +202-26846368.

January 2014

17

January 2014

OPPORTUNITY

18

January 2014


OPPORTUNITY

19

PRISM, January 2014

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