Business Forum seeks to promote trade, investments between Oman and India

Continuing its efforts to promote bilateral trade and mutual investments between India and Oman, Indian Embassy in Muscat convened the 5th edition of the India Business Forum on Tuesday.

The India Business Forum has been convened twice a year and has emerged as a useful platform for the Indian business community. Around 200 Indian businesspersons, senior management and professionals attended the Forum. For the first time, the Ambassador of Nepal to the Sultanate of Oman, Sarmila Parajuli Dhakal, was invited to brief the participants about the opportunities for investments in Nepal. During the discussion, various issues of relevance to enhancing bilateral trade and investments between India and Oman were discussed.

Indian Ambassador Indra Mani Pandey, in his keynote speech, underlined the centrality of business relations in India’s strategic partnership with Oman. He pointed out that bilateral trade and investments between the two countries has been sustained by geographical proximity, port and airport connectivity, and mutual familiarity of businesspersons with the business environment.

He reiterated the highest priority accorded by the Government of India and Indian Embassy in Muscat to promoting bilateral trade and investment. While expressing satisfaction that there has been a small increase in bilateral trade in 2016-17, which reached $4 billion, and the momentum in mutual investments has been sustained, Ambassador Pandey drew attention to the huge untapped potential for bilateral trade and investments between the two countries.

The ambassador briefed the participants of the various initiatives of the embassy in realising this potential including support to visits by trade delegations, roadshows, and B2B meetings and called for encouraging participation of Indian companies in key sectors prioritised by the Government of Oman — minerals and mining, logistics, oil & gas, solar power, tourism, services, innovation, entrepreneurship, skilldevelopment, and so on.

He informed the participants about the formation of PIOCCI Oman Chapter under his patronage and the forthcoming visit of a large business delegation from Gujarat, comprising 45 companies, the next Edition of ‘Invest in India Seminar’ (January 30, 2018) and India-Oman Start-up Forum, likely to be scheduled in February 2018.