Omani-Indian forum boosts trade, investment ties
MUSCAT: The Oman Chamber of Commerce and Industry (OCCI), in partnership with the Ministry of Commerce, Industry, and Investment Promotion, hosted the Omani-Indian Business Forum today. The event aimed to forge sustainable cooperation, foster innovation, and explore joint investment opportunities by leveraging the economic strengths of Oman and India.
Key sectors highlighted during the forum included chemicals, power electronics, engineering, manufacturing, IT services, solar energy, health, agriculture, food security, infrastructure, tourism, and consumer goods.
Faisal bin Abdullah al Rawas, Chairman of OCCI, described the forum as a strategic platform for business leaders and investors to deepen ties and unlock growth opportunities. He reaffirmed OCCI's commitment to strengthening private-sector partnerships between Oman and India, emphasizing the vital role of the Omani-Indian Joint Business Council in facilitating economic collaboration through events, conferences, and trade missions.
Harsha Vardhan Agarwal, Chairman of the Federation of Indian Chambers of Commerce and Industry, highlighted the forum as a pivotal step toward expanding bilateral trade and investment. He identified various promising sectors for cooperation, emphasizing mutual economic benefits.
Dr Abdullah bin Masoud al Harthy, OCCI Board Member, underscored the forum's alignment with Oman's Vision 2040 and India's Vision 2047. He noted that the economic ties between the two countries have flourished, with bilateral trade reaching $5.085 billion by October 2024.
The forum featured presentations on investment opportunities, including "Economic Partnership between Oman and India," "Invest in Oman," and "Invest in India." Business leaders from both nations also held bilateral meetings to discuss potential collaborations in targeted sectors.
The event was attended by high-ranking officials, including Qais bin Mohammed al Yousef, Oman's Minister of Commerce, Industry, and Investment Promotion, and Piyush Goyal, India's Minister of Commerce and Industry.
The forum served as a testament to the enduring economic partnership between Oman and India, paving the way for innovation-driven, sustainable growth. — ONA
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