Oman non-oil exports to India have surged 172% between 2020 and 2021, and both the countries are now aiming to further strengthen its bilateral economic cooperation and investment.
Oman’s Minister of Commerce, Industry and Investment Promoting, Qais Al Yousef said that non-oil exports to India reached $1.2 billion in 2021, a jump of 172% over 2020.
Yousef, speaking ahead of a planned trip to New Delhi to participate in the 10th Oman–India Joint Commission Meeting on 11th May, said that imports from India hit $2 billion, which shows a 94% increase compared to the last year 2020.”
Yousef will deliver a speech in Oman-India B2B networking session in New Delhi, in which high-level delegations from both sides Omani and Indian, including ministers of energy, chamber of commerce and industry, and head of companies from the construction, manufacturing, retail, automotive, renewable energy, pharmaceutical and tourism sectors will be participating in the meeting, according to the Times of Oman.
Yousef said during their visit to India they will make all-out efforts to reach the “Oman vision 2040” under Sultan Haitham bin Tarik, a framework for development and growth.
As India celebrates its 75 years of independence this year, Yousef said he would like to congratulate the people of India on the occasion in person and “will try to engage with the government and business captains to strengthen the long-standing trade partnership.”
Yousef said he fully expects to see further growth in Oman-India trade, especially at this time when both the countries are emerging from the COVID-19 pandemic.
“India, like many other countries, was also impacted by the COVID-19 pandemic,” Yousef said, but now India is emerging back to the business world to recover its economy in 2022.
Yousef said that Oman-India trade and investment relations are “exceptional” which also led to the people-to-people ties. “I would like to see more Indians in Oman and more Omanis to India for jobs, innovation, and entrepreneurship as well as a tourist,” Yousef added.
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