Oman-India Business Dialogue stresses on enhanced partnership

Muscat: The Oman-India Business Dialogue laid a strong emphasis on expanding the economic partnership between the two countries, setting the course for broader cooperation and establishing new avenues for public and private sector collaboration.

Convened by the Oman Chamber of Commerce and Industry (OCCI) on the sidelines of the official visit by Narendra Modi, Indian Prime Minister, the dialogue explored lucrative investment opportunities across several strategic sectors.

These discussions are aligned with the economic diversification goals outlined in Oman Vision 2040 and India’s own national growth priorities.

The dialogue served as a platform to review the current trajectory of bilateral economic relations, including the growth in trade volumes, and to identify concrete measures for facilitating greater trade and investment flows. Participants engaged in detailed discussions on forging strategic partnerships and unlocking new investment potential.

A key focus was the presentation of significant investment opportunities for Indian companies within the Sultanate of Oman, detailing the competitive incentives and facilitative environment available to investors. The dialogue featured dedicated presentations, including “Invest in Oman” and an overview of India’s investment climate.

The event was structured around two main plenary sessions. The first session, “Expanding Trade Relations between Oman and India,” concentrated on strategies to increase bilateral trade. Discussions covered available market opportunities for businesses, mechanisms to streamline exports and imports, solutions to logistical and regulatory hurdles, and the strengthening of private-sector alliances. The session also underscored the vital role of business councils and chambers of commerce in fostering direct business linkages and building enduring commercial partnerships.

The second session, titled “Enhancing the Oman-India Investment Partnership,” delved into specific avenues for joint investment. It highlighted priority sectors for collaboration, including industry, tourism, energy, and manufacturing.

A comparative review of the investment frameworks, incentives, and public-private partnership models in both countries provided a clear roadmap for potential investors.

The session also spotlighted high-value projects ripe for investment and emphasized the mutual benefits of technology and knowledge transfer, which are crucial for generating sustainable economic value and supporting diversification efforts in both countries.

Complementing the formal sessions, the dialogue featured structured bilateral networking meetings, allowing Omani and Indian business leaders and investors to explore specific cooperation opportunities and initiate new partnerships across diverse economic fields.

The dialogue was attended by Qais bin Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion; Piyush Goyal, Minister of Commerce and Industry of India; and Faisal bin Abdullah Al Rowas, Chairman of the Board of Directors of the Oman Chamber of Commerce and Industry. -ONA