Bilateral trade soars to $5.5 billion

its recent report, has said that “India would be the second largest economies in the world," as is commented by another global analyst “India has all reasons to be the number one economy by 2015, if not by 2013."

Its key strengths include strong and stable growth prospects supported by high savings and investment ratios coupled with robust domestic demand, high degree of political stabil- ity and strong institutions, deep capital markets, strong and competitive private sector, significant foreign capital inflows and large foreign exchange reserves.

A high-level delegation from India representing the Indian Ministry of Finance led by Dr Thomas Mathew, Joint Secretary (Capital Markets) took part in the Conference along with a number of senior representatives from the Securities and Exchange Board of India, Reserve Bank of India, Department of Revenue and Department of Disinvestments as part of the delegation.

“The India- Oman relationships have been highly symbiotic, ideal and ever-progressing. With a $4.5 trillion PPP growth, India is the third in the world and it stands all possibilities to attract more investors through the novel Indian concept of QFI which is the new liberalised investment norms”, averred Dr Thomas Mathew, Joint Secretary (Capital Markets), India.

He said that the Government of India has taken a number of initiatives in recent times aimed at attracting higher foreign investment in India. India has been keen to diversifying its co-operation with Oman in new vistas like science and technology, research and development, education, training, tourism, and renewable energy.

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