Begin typing your search above and press return to search.
proflie-avatar
Login
exit_to_app
The smouldering of anger in Ladakh
access_time 29 March 2024 4:20 AM GMT
Democracy that banks on the electorate
access_time 28 March 2024 5:34 AM GMT
Lessons to learn from Moscow terror attack
access_time 27 March 2024 6:10 AM GMT
Gaza
access_time 26 March 2024 4:34 AM GMT
The poison is not in words, but inside
access_time 25 March 2024 5:42 AM GMT
DEEP READ
Schools breeding hatred
access_time 14 Sep 2023 10:37 AM GMT
Ukraine
access_time 16 Aug 2023 5:46 AM GMT
Ramadan: Its essence and lessons
access_time 13 March 2024 9:24 AM GMT
When ‘Jai Sree Ram’ becomes a death call
access_time 15 Feb 2024 9:54 AM GMT
exit_to_app
Homechevron_rightBusinesschevron_rightUnion minister calls...

Union minister calls for expanding Indo-Oman cooperation to new areas

text_fields
bookmark_border
Union minister calls for expanding Indo-Oman cooperation to new areas
cancel

New Delhi: India and Oman should expand cooperation to new areas of mutual interest including space, cyber-security, renewable energy and food security to realise the full potential of bilateral trade which currently stands at USD 7 billion, Union minister C R Chaudhary said Tuesday.

Observing that a lot of restrictions have been lifted to make doing business easy, the Minister of State for Commerce and Industry said 90 per cent of total foreign direct investment (FDI) into the country was now coming through the automatic route.

"Considering the expanding economies of India and Oman there is scope for substantial increase in the bilateral flow of trade and investments and diversifying the trade basket," Chaudhary said while addressing a summit organised by industry body PHD Chamber of Commerce.

He said Indian companies can also use the Duqm special economic zone in Oman as a hub and gateway to reach out to the rest of Middle East and African nations.

"India needs to engage with Oman and take initiative to utilise opportunities arising out of the Duqm port industrial city," Chaudhary said.

Highlighting that the total trade between the two countries is around USD 7 billion, the minister noted that Oman ranks 31st in terms of FDI into India.

"Oman offers unmatched incentives to Indian investors assuring the long term interest of Indian investors to set up manufacturing facilities so that goods may be exported to USA under the aegis of unique free trade agreement which exists between Oman and USA," Oman's Ambassador to India, Hamed Saif Al-Rawahi, said.

Show Full Article
News Summary - Union minister calls for expanding Indo-Oman cooperation to new areas
Next Story