Indian delegation to explore exports, tie-ups in Oman

Muscat: A delegation of Indian companies will visit Oman to explore opportunities for exports, business tie-ups, investments and project work in Oman, at a trade and investment promotion event on March 30.
Organised by the Embassy of India, in association with Oman Chamber of Commerce & Industry (OCCI), the event in Muscat will focus on healthcare, food industry, information technology, mining & mineral and construction and infrastructure sectors.
Apex chambers in India like Confederation of Indian Industry (CII), Federation of Indian Export Organisation (FIEO), National Association of Software and Services Companies (Nasscom) and Trade Promotion Council of India (TPCI) will be organising delegations of reputed Indian companies to showcase their products and services in these sectors to the Omani business enterprises.
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, as per the information from Ministry of Commerce and Industry of Oman.
With a view to provide opportunities for match making and business interactions, the Indian embassy, in association with OCCI, will organise a business to business meeting at Hotel Crowne Plaza, Muscat on March 30 with relevant Omani enterprises, to be invited by OCCI.
Later, in the afternoon a seminar on business/project work opportunities available in Oman in these sectors will be organised on the embassy premises. Key Omani government/private authorities will be invited to making presentations to the Indian delegation on project work and investment opportunities available in Oman.
Omani enterprises dealing in these sectors in Oman are invited to attend the forenoon session at Hotel Crowne Plaza and interact with Indian companies on March 30.
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 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 SBI as the Indian partner. The first tranche of $100 million raised by the Fund has already been invested in 7 projects in India. SGRF and SBI are in the process of finalizing the second tranche of $300 million, with equal contribution by the two partners.