Muscat: The Embassy of India in Muscat, in collaboration with the Sheraton Oman Hotel, hosted an India-Oman Business-to-Business (B2B) Summit on the 22nd of July, 2024. This prestigious event witnessed the participation of 27 distinguished Indian corporations, primarily from the agricultural and food industries, under the leadership of Dr. Sudhanshu, the Secretary of the Agricultural and Processed Food Products Export Development Authority (APEDA). The summit also saw the involvement of over 30 prominent Omani enterprises. The primary objective of the meeting was to facilitate direct engagements between Indian exporters and Omani importers, with a focus on the sectors where Indian expertise, notably in rice, poultry, and agricultural products, shines the brightest.
The summit was accorded distinguished recognition by the esteemed presence of Dr. Masoud bin Sulaiman Al Azri, the Director General of Agricultural and Fisheries Marketing within the Ministry of Agriculture, Fisheries, and Water Resources, Eng. Hussain Hassan Ali Abdulhusin, a member of the Board of Directors of the Oman Chamber of Commerce and Industry, Mr. Redha Juma Al Saleh, another esteemed member of the board, and Ms. Lubna Al Harthi, the Director of Export Development for the Ministry of Commerce and Investment Promotion, serving as the guests of honor.
The distinguished Ambassador from India, Amit Narang, delivered a noteworthy address during the summit, acknowledging the swift expansion of India's agricultural exports, thereby solidifying India's position as a pivotal player in the global food supply chain. He further highlighted the significant potential for the enhancement of trade relations between India and Oman, underscored by a launch of a comprehensive Market Study Report focused on the food, agriculture, and marine sectors, aimed at identifying critical opportunities and strategies to further augment trade between the two nations.
Furthermore, the delegation had the opportunity to visit the Embassy on the 22nd of July, where they engaged in discussions with Ambassador Narang. This meeting served as a vital platform for deliberating on potential future collaborations and fortifying the existing trade relations between India and Oman.
India, renowned globally for its leadership in agriculture and food production, boasts a vast array of high-quality and diverse products. The strides made by India in these areas are attributed to its abundant agricultural heritage, innovative methodologies, and unwavering commitment to excellence. The visit of the Indian delegation to Oman presented an ideal opportunity to showcase India's capabilities and explore avenues for new business partnerships with Omani counterparts.
The longstanding and robust economic and trade relations between India and Oman are characterized by mutual interests and values. Both nations have been committed to the further development of their economic alliance, which has led to a significant increase in trade volumes and diversification across various sectors. The bilateral trade has more than quintupled from USD 5.4 million in the fiscal year 2020-21 to USD 12.3 billion in the fiscal year 2022-23, demonstrating the strength and depth of the economic ties between the two countries.
