Union Minister of Commerce & Industry and Civil Aviation, Suresh Prabhu, today co-chaired 8th session of India-Oman Joint Commission Meeting (JCM) along with Minister of Industry, Investment, Trade and Digital Economy of Oman, Dr. Ali bin Masoud Al Sunaidy. Addressing the Joint Commission Suresh Prabhu invited Omani companies to build on their success in India and make investments to benefit from ‘Make in India’ and ‘Invest India’ programmes which are aimed to encourage manufacturing.
The Commerce Minister said that the Government of India has launched several investment friendly programmes like‘Make in India’ with a trillion dollar business opportunity in the country. He said that both countries are keen to expand collaborations to their mutual benefit in the fields of energy, health, business, finance and investments, infrastructure, travel and tourism. Suresh Prabhu added that apart from official interactions, people-to-people contacts and initiatives by private sector will energise cooperation in various sectors.
Areas of discussion in the JCM include cooperation in space, renewable energy, start-up, SMEs, food security, including durable foods and packaging, services sector,tourism sector, exchange of ideas and visit of young entrepreneurs.
He said that the Sultanate of Oman is a strategic partner of India in the Gulf and the two countries enjoy warm and cordial relations. The Commerce Minister said strong cultural and economic ties have further cemented these bonds. India Oman bilateral trade has registered a growth from US$4131.69 million in 2014-15 to US$ 6703.76 million in 2017-18. India’s export to Oman has grown from US$ 2379.44 million to US$ 2439.46 million in 2017-18.
