November 18, 2020
Oman's Ambassador to India invites international businesses to establish themselves along Oman’s 1700km of coastline
Oman has 4 seaports and 4 industrial free zones facing the Indian Ocean
Govt of India has launched several investment friendly programmes to leverage a potential US$1 trillion worth of business opportunities
India-Oman to expand collaborations in fields of energy, health, business, finance and investments, infrastructure, travel and tourism
India’s Indo-pacific vision strengthens with the help of a long-standing partnership with Oman, one of the country’s oldest defence and strategic allies in West Asia, as the two nations work closely on improving cooperation and collaboration to find shared solutions to challenges faced in the region. A statement from Sheikh Hamad Bin Saif Al Rawahi, Oman’s Ambassador to India, addressed the suitability of Oman’s 1700 kilometers of coastline for international businesses to establish themselves, with its 4 seaports and 4 industrial free zones facing the Indian Ocean, as reported by Economic Times on November 18. The statement also acknowledged the growing presence of Indian private and public sector companies in the country owing to the investor-friendly relationship and enabling environment created by both countries.
Since the 8th India-Oman Joint Commission held in Muscat in 2018, the Government of India has launched several investment friendly programmes aimed at leveraging a US$1 trillion business opportunity in the country. Over the years, both countries have worked together to expand collaborations in fields of energy, health, business, finance and investments, infrastructure, travel and tourism. Apart from official interactions, people-to-people contacts and initiatives by the private sector have boosted cooperation across various industries.
During Prime Minister Narendra Modi’s visit to Oman in 2018, India committed to taking bilateral ties with Oman to a higher level, adding that there was a need to meet more frequently to expand and deepen their economic and commercial relationship. Oman is a strategic partner of India in the Gulf and an important interlocutor at the Gulf Cooperation Council (AGCC), Arab League and Indian Ocean Rim Association (IORA) fora. Additionally, the Indian Space Research Organization (ISRO) and Oman’s Ministry of Transport and Communications (MTC) entered agreements in relation to cooperation in the peaceful uses of outer space, while India signed as many as eight bilateral agreements with Oman during PM Modi’s state visit to the nation.