A high-level Omani multi-sectoral delegation led by Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, begins a five day-visit to India to explore enhanced business, investment and economic relations between the two countries.
The 48 member-delegation includes senior officials and business representatives from diverse areas spanning health, pharmaceuticals, mining, tourism, telecommunication, energy, shipping and real estate in the Sultanate of Oman.
During the visit, senior officials from both the sides would be participating in the 10th Session of the India-Oman Joint Commission Meeting (JCM), which opens in New Delhi on Wednesday, May 11, 2022. It will be co-chaired by Piyush Goyal, Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles, Government of India and Qais al Yousef, Minister of Commerce, Industry and Investment Promotion of the Sultanate of Oman.
The visit of the Omani delegation comes at a prime time when the bilateral trade between the two countries has grown by 82 per cent to reach $9.94 billion in the financial year 2021-2022. The visit provides an excellent opportunity to renew and further strengthen the already close and dynamic economic ties between the two countries.
On May 12, 2022, a meeting of the India-Oman Joint Business Council (JBC) will be jointly organised by FICCI and Oman Chamber of Commerce and Industry. The JBC will witness participation of the ministers from both sides who will also address the gathering and interact with the business communities of India and Oman. A number of other engagements in New Delhi and Mumbai including B2B Events, Industry interactions, Investor meetings and so on are scheduled for the visiting Omani delegation during their stay in India.
Meanwhile, the Oman Chamber of Commerce and Industry (OCCI) is heading a trade mission that is part of a high-level delegation to India.
Eng Ridha bin Juma al Saleh, OCCI Chairman, said the trade mission comprises Omani business-persons representing a number of economic sectors. The Chamber’s participation aims to boost trade and investment cooperation, and stimulate new business partnerships between private sector institutions and companies in the two countries.
In a statement to Oman News Agency (ONA), he said several bilateral meetings are scheduled with the goal of addressing impediments in enhanced trade and investments between the two sides.
As of 2020, as many as 4,766 joint venture companies and partnerships are operating in the Sultanate of Oman with a total investor capital of $32.45 billion. India’s share of this capital is $10.64 billion.
Al Saleh said an "Invest in Oman" forum will be held with the aim of introducing investment opportunities and facilities provided by the government of Oman to investors, and holding bilateral meetings between businessmen from both countries to exchange experiences and discuss ways to strengthen trade and investment relations between the two sides.
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