Supported by the Bahrain Economic Development Board (Bahrain EDB), two India-based leading companies, Aerolam Middle East and Titan Company Limited (Titan), are set to launch their operations in Bahrain. With a total investment of approximately USD 45 million, the milestone achievement was announced on the sidelines of the recent high-level Bahraini delegation visit to India this week, which was organised to highlight investment opportunities in Bahrain across priority sectors.
A 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 businesses including Tanishq, its flagship and fastest growing fine jewellery brand in India.
With a total expected investment of approximately USD 30 million, Titan is gearing up to launch Tanishq in Bahrain, backed by a franchise partner from India.
Tanishq, India’s most-loved jewellery brand from the TATA Group, has been synonymous with superior craftsmanship, exclusive designs, inimitable customer service and guaranteed product quality for over two decades. At Tanishq, jewellery is not just a product but a manifestation of artistry and our exquisite range of gold and diamond jewellery strikes the perfect balance between traditional charm and contemporary appeal. With designs that capture the beauty and celebration of special occasions, Tanishq aims to be an integral part of every woman’s journey. Attesting to this commitment towards excellence, in 2019, Tanishq has been awarded the title of The Most Trusted Jewellery Brand in India by the Trust Research Advisory. Tanishq currently has a presence of 410 stores and is India’s most trusted jewellery brand with an extremely high brand recall.
Mr Naresh Nair, Head of operations, at Tanishq said, “Thanks to the level of support and agility of Bahrain’s government, they made it incredibly easy for us to set up our operations in Bahrain. We look forward to bringing our leading brands and products to Bahrain. We have earmarked the location of our first store and will be opening 3 retail outlets over a span of 15 months to 18 months.”
As for Aerolam Middle East, the company is a subsidiary of Aerolam Insulations from India. This marks its first overseas manufacturing unit specialising in the production insulation material in the likes of foam sheets and Cross-Linked Polyethylene pipes, precisely designed with high-end engineering and advanced research and development teams. With an investment of USD 14.5 million, the plant will operate out of Bahrain International Investment Park (BIIP).
Brijesh Patel – Managing Director at Aerolam Insulations Pvt. Ltd., said,“We have gained from the active support of the government of Bahrain look forward to setting up our first manufacturing unit out of Gujarat, India. Bahrain was a natural choice given its central location and advanced logistics infrastructure, enabling us to cater to the GCC from Bahrain with greater speed and efficiency.”
Ali AlMudaifa, Chief of Business Development at Bahrain EDB, commenting on the robust investments,added, “We’re thrilled to see these leading companies set up in Bahrain and benefit from the key advantages that the Kingdom uniquely has to offer. With Bahrain’s business-friendly environment and advanced logistics infrastructure, we expect both companies to cement a strong foothold in Bahrain, adding to the diversity of our economy and capitalising on Bahrain as gateway to the region.” With strong bilateral relations, India consistently ranks as one of Bahrain’s top 10 trading partners. The volume of trade between India and Bahrain has increased by 30% since 2018, reaching USD 1.4 billion in 2022. Focusing on key sectors, including financial services, ICT, logistics, manufacturing, and tourism, Bahrain EDB successfully attracted more than USD 1.1 billion in foreign direct investment from multiple companies across the world in 2022, which are expected to generate over 6,300 jobs in the local market over the next three years.