The Embassy of India, Muscat organised a forum on the theme, ‘Ambassador’s CEO Round-table: Indian Businesses in Oman – A promising future’, last week.

The event was attended by CEOs and heads of prominent Indian business houses and Indian public sector undertakings in the Sultanate of Oman.

In opening remarks, Amit Narang, Ambassador of India to the Sultanate of Oman, spoke about the significance of India-Oman trade and investment relations and the contribution of the Indian diaspora and Indian companies to further enhance these relations. He mentioned that there is a huge potential for Indian companies in the Sultanate of Oman in the post-Covid period, noting that this is the right time to tap the Omani market.

Ambassador Narang underlined the importance of aligning with Oman Vision 2040 and work together with Sultanate of Oman to achieve the objectives of Oman Vision 2040. This would be beneficial for the growth of Indian companies in Oman, he stated.

Additionally, Indian companies can play a crucial role of connecting and guiding Indian companies and their counterparts in the Sultanate of Oman on the basis of their experience and knowledge about the country, he said.

Narang also encouraged participants and all Indian companies in the Sultanate of Oman to explore possibilities to bring Omani investment to India to realize the Indian government’s Atmanirbhar Bharat initiative. Indian companies here should try to import more products made in India.

Participants were unanimously positive about the Omani economic growth and investment opportunity in the post-pandemic period. To this end, they shared their constructive ideas and views for stronger cooperation between India and the Sultanate of Oman. There was unanimity among the participants that Oman Vision 2040 presents new opportunities for further growth of Indian business and committed to better aligning their respective strategies to Vision 2040.

It was agreed that potential major sectors for Indian companies in Oman are IT including digital services & education, agriculture and food products, pharmaceuticals, mining, new energy, transportation and tourism. The need for more visits of business delegations from India to the Sultanate of Oman and vice-versa, organising sector-specific buyer-seller meets, investment related seminars and a GAP analysis to assess the potentials of Indian companies in Oman in different sectors was also discussed.

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