TRADE PROMOTION: Indian Embassy business event to promote Oman-India trade and investment relations
Muscat - The Embassy of India in Muscat, in association with Oman Chamber of Commerce and Industry (OCCI), is organising a trade and investment promotion event on March 30, 2016 with focus on Healthcare, Food Industry, Information Technology, Mining & Mineral and the Construction & Infrastructure sectors.
Leading Indian business organisations, notably the Confederation of Indian Industry (CII), Federation of Indian Export Organization (FIEO), National Association of Software and Services Companies (NASSCOM) and Trade Promotion Council of India (TPCI), will be fielding delegations of reputed Indian companies to showcase their products and services to the Omani business enterprises.
The objective is to provide Indian companies from these sectors a platform to explore opportunities for exports, business tie-ups, investments and project work in Oman, said the Embassy in a press statement.
"India and Oman, maritime neighbours, enjoy excellent political relations. Under their strategic partnership, cooperation and exchanges between the two countries have been expanding. Bilateral trade, which had grown to $5.77 billion in 2013-14, has since been declining in value. It had amounted to $4.18 billion in 2014-15. Mutual investment between Oman and India is estimated at $7.5 billion," the Embassy said.
Citing data sourced from Oman's Ministry of Commerce and Industry, it noted that there are over 2,900 Indian enterprises in Oman with an estimated investment of $4.5 billion. Omani investments in India are estimated at $3 billion.
"The State General Reserve Fund (SGRF) of Oman, the main sovereign wealth fund of Oman, has been making investments in India. It is also the Omani partner of 'Oman India Joint Investment Fund' (OIJIF) with the State Bank of India (SBI) as the Indian partner. The first tranche of $100 million raised by the Fund has already been invested in seven projects in India. SGRF and SBI are in the process of finalising the second tranche of $300 million, with equal contribution by the two partners," it stated.
With a view to providing opportunities for match making and business-interactions, the Embassy, in association with Oman Chamber of Commerce and Industry (OCCI), will host a B2B Meeting at Crowne Plaza Muscat on March 30 with Omani enterprises to be invited by OCCI. Later in the afternoon, a seminar on business/project work opportunities available in Oman in the above sector will be organised at the Embassy premises. Key Omani government/private authorities will be invited for making presentations to the Indian delegation on project work and investment opportunities available in Oman in above sectors.
© Oman Daily Observer 2016
