Ministers Meet To Boost Oman-India Trade, Investment Ties
Oman’s Minister of Commerce, Industry, and Investment Promotion Qais Mohammed Al Yousef met with Indian Minister of Commerce and Industry Piyush Goyal on Monday to explore ways to strengthen bilateral economic cooperation. The meeting, held during the 11th Oman-India Joint Committee session, focused on expanding partnerships across key sectors, including technology, pharmaceuticals, renewable energy, and infrastructure.
Discussions also centered on measures to attract Indian investments to Oman, further bolstering the already strong economic relationship between the two countries. Both officials described the joint committee as a “strategic platform” to deepen collaboration and enhance trade ties.
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Trade between Oman and India reached $8.94 billion during the 2023-2024 fiscal year, reflecting significant economic interaction. Oman and India share a longstanding partnership, driven by historical connections and economic collaboration. Indian investments in Oman span several industries, including oil and gas, construction, and information technology, while Oman continues to prioritize foreign investment as part of its Vision 2040 economic diversification strategy.
The two nations have also collaborated on renewable energy initiatives and pharmaceutical production, reflecting shared priorities for sustainable development. Strengthening these ties is expected to benefit both countries’ economies, creating opportunities for mutual growth.
