Indian businesses in Oman urged to boost bilateral trade
May 26, 2018 | 3:11 PM
by Times News Service
The forum, convened twice a year, has emerged as a key platform for Indian businesspersons and professionals in Oman to exchange views with the Embassy and to interact with one another. - Supplied picture

Muscat: The Embassy of India hosted the 6th edition of the India Business Forum on May 23 for around 200 leading Indian businesspersons and professionals.

The Embassy has been convening the Forum to engage the growing community of Indian businesspersons and professionals in Oman to deliberate on ways to enhance bilateral trade and investments.

The forum, convened twice a year, has emerged as a key platform for Indian businesspersons and professionals in Oman to exchange views with the Embassy and to interact with one another.

Indra Mani Pandey, Ambassador of India to Oman, welcomed the participants and briefed them on the outcome of the visit of the Indian Prime Minister to Oman on February 11-12, including the signing of eight memorandums of understanding (MoUs) and identification of new areas of cooperation.

He referred to the address of the Indian PM at the India-Oman Business Meet, which underlined the commitment of the two countries to enhance bilateral trade and mutual investments.

He drew attention to the visit of 30 next generation business leaders of Oman to India on May 14-16 on the invitation of the Indian PM, who had stressed that the next generation of business leaders of India and Oman should be encouraged to meet so that they forged business links.

Pankaj Khimji, Omani Co-Chair of the India-Oman Joint Business Council, who anchored the visit of the Omani delegation to India, briefed the participants on the outcome. The delegation called on the Indian PM and met the Indian Ministers for Commerce and Industry, Civil Aviation, and Textiles. It also visited the Indian Institute of Management, Ahmedabad, and interacted with the Indian business community.

The Ambassador referred to another proposal of the Indian PM for a composite Omani delegation to highlight opportunities for investments in Oman through roadshows in various Indian cities. Expressing satisfaction over the recent positive developments in bilateral trade and investment, the Ambassador, while lauding the role played by Indian businesspersons and professionals, urged them to use the opportunities being offered by the diversification of Oman’s economy.

Highlighting the investment opportunities offered by the fast growing economy of India, the Ambassador urged Indian businesspersons and professionals to make investments in India and to brief Omani businesspersons on the investment opportunities, including the growing ease of doing business.

The Ambassador encouraged Indian businesspersons and professionals to identify sectors with potential for more trade between the two countries. Oil and gas, minerals and mining, manufacturing, power, including renewables, health, education, services, tourism etc. were identified as the sectors with high potential.

The Ambassador sought suggestions for promoting Omani investments in India, as well as Indian investments in Oman and enhancing links between the two business communities. He asked Indian businesspersons and professionals with experience of doing business in both countries to encourage Indian companies to do business in Oman, and make investments in priority sectors.

Referring to India’s vast experience in skill development, small and medium enterprise (SME) development, innovation and start-ups, the participants discussed steps for sharing India’s expertise with Oman, which has made these sectors a priority. Steps to increase the number of Omani students in India and Indian students in Oman were also discussed.

The Ambassador appealed to Indian businesspersons and professions to work with the Embassy for ensuring the welfare of Indian workers and other segments of the community, including support for social and cultural activities.

The participants were keen to contribute to various development projects in India. They also pledged to support the celebration of the 4th International Day of Yoga in Oman. Some of the participants briefed the others on their proposals for investments in India and Oman.

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