HE Indramani Pandey, Ambassador of India to the Sultanate of Oman shares his thoughts on India-Oman bilateral relations on the occasion of the 69th Republic Day of India. An OER interview
How has India Oman bilateral trade progressed in 2017?
India-Oman bilateral trade is continuing its upward trend after facing a decline during 2014-15 and 2015-16. During the financial year April 2016-March 2017, the value of bilateral trade increased to $4bn from $3.8bn in 2015-16. During April- October 2017, it has already reached $3.68bn.
Which are the major sectors and opportunity areas for economic cooperation between India and Oman?
There are tremendous opportunities for expanding India-Oman cooperation in various areas ranging from food security to space applications, power (specially renewable energy), development of SMEs and Startups, cyber security, defence, engineering goods, IT and IT enabled services, healthcare and pharmaceuticals, education and training, etc. India is also keen to contribute to the success of Oman’s national programme for economic diversification. The Indian Embassy in Muscat has been encouraging Indian companies to participate in sectors prioritised by the Government of Oman, including logistics, minerals and mining and manufacturing as well as in freezones and special economic zones. India has already been contributing to human resource development of Oman by providing professional training under its ITEC Programme. In fact, India has always been a partner in Oman’s growth story.
The next tranche of Oman India Joint Investment Fund totalling $220 million is being invested now. Can you please share some details of the fund and its likely investments?
This story is from the February 2018 edition of Oman Economic Review.
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This story is from the February 2018 edition of Oman Economic Review.
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