Mumbai: HE Qais Mohammed Al Yousef, the Minister of Commerce, Industry, and Investment Promotion for Oman, has extended an invitation to Indian business entities to explore investment opportunities within the Sultanate.
"From the mining sector to engineering and heavy industry, Oman has extended its commercial welcome to businesses," the Minister of Commerce articulated during an event in Mumbai, which saw participation from several distinguished members of the Federation of Indian Chambers of Commerce Industry (FICCI) in Mumbai.
The Omani delegation, comprising the Minister of Commerce, Pankaj Khimji, the Advisor for Foreign Trade and International Cooperation within the Ministry of Commerce, Industry, and Investment Promotion, along with senior officials from the Ministry of Culture and the Omani Ambassador to India, was a testament to the country's commitment to fostering international business relationships.
"Situated just across the Arabian Sea, Oman and India share a rich history of relations that span thousands of years. Our ties with esteemed organizations such as FICCI, CII, and WIPO are built on trust and mutual respect. India holds a special place in Oman's heart, evidenced by the fact that upon His Majesty Sultan Haitham bin Tarik's ascension to the throne, India was the first non-Arab nation to receive his visit," the Minister remarked.
"The process for investors to navigate their investment plans has been streamlined, making it easier for them to benefit from our business environment. Our goal is to elevate our business relationship from mere transactions to a comprehensive economic partnership," the Minister added.
Ahmed Al Mamari from Invest Oman highlighted the appeal of Oman to modern investors, noting a preference for the country's serene and peaceful environment over the bustling cities of India.
Deepak Bagla, the Adviser to the Ministry, emphasized the global appeal of the Indian Film industry and the potential for showcasing the beauty of Oman's landscapes in international films, thereby attracting a wider audience.
The Minister also mentioned that Pankaj Khimji, the Foreign Trade and International Cooperation Adviser for the Ministry of Commerce, Oman, is dedicated to enhancing the investment process in Oman by addressing any potential obstacles and facilitating smoother operations.
The enduring relationship between India and Oman, particularly during the tenure of His Majesty Sultan Qaboos bin Said al Said, is a testament to the depth of their connection. "We are not just inviting investors to Oman; we are welcoming them with open arms, eager to see our country benefit from their investments," the Minister concluded.
"The historical trade relations between Oman and India extend back over 5,000 years," stated Pankaj Khimji, further elaborating that "artifacts provide insights into the maritime trade between Qalhat and Dwarka." He also mentioned that the National Museum of Oman houses numerous artifacts illustrating the longstanding and close ties between the two nations.
Khimji noted that during the meeting between His Majesty Sultan Haitham bin Tarik and Indian Prime Minister Narendra Modi, discussions centered around cricket. As a gesture of goodwill, the Indian Prime Minister presented His Majesty with a cricket bat adorned with signatures from Indian players.
He highlighted that Oman possesses a comparative advantage in five key sectors: tourism, weddings, logistics, road network connectivity, manufacturing, and food security. The minister pointed out that Oman is endowed with significant natural resources, including copper, dolomite, marble, and limestone.
Regarding the negotiations for the final Comprehensive Economic Partnership Agreement (CEPA), Khimji mentioned that the focus will be on one-on-one meetings rather than a general council meeting to meticulously refine the details.
The minister expressed his high regard for the Indian Ambassador to Oman, Amit Narang, who facilitated the meeting with the Federation of Indian Chambers of Commerce & Industry (FICCI).
Dr. Yousef Hamed Al Balushi, the Advisor at the Ministry of Commerce, Industry, and Investment Promotion, underscored the strategic benefits Oman offers to Indian investors, emphasizing its role as a gateway to the Gulf Cooperation Council (GCC) and African markets. He also highlighted the emerging special economic zones in Duqm, Salalah, and Sohar Freezone, positioning them as attractive investment destinations.
The Omani delegation leading the meeting included Aziz Salim Al Hadhrami, Section Head, Commercial Relations, Ministry of Commerce Industry and Investment Promotion; Abdullah Al Rawahi, Section Head, Industry Analysis and Evaluation, Ministry of Commerce Industry and Investment Promotion; Ahmed Al Maamari, Investment Analysis, Ministry of Commerce Industry and Investment Promotion; Ms. Mariya Al Hashar, Tourism Sector Lead, Oman National Programme for Private Sector and Foreign Trade (Nazdaher); Ms. Maryam Nasser Al Kharbooshi, Ministry of Culture, Sports, and Youth.
Prominent participants in the meeting included Deepak Mukhi, Director, Maharashtra State Council, FICCI, Srikant Badve, Managing Director, Belrise Industries, Dinesh N Joshi, Chairman and Managing Director, Satyagiri Group, Gaanesh Srinivasan, President, T&D, KEC, Anant Singhania, CEO, JK Enterprises, Hrishikesh Kamat, Chief Procurement Officer, Arcelor Mittal Nippon Steel India, Bobby Pauly, Managing Partner and CEO, One Planet Partners Private Limited, Summet Kabra, Director, RR Global, Anuj Sharma, CEO- Hydrogen Business, Waaree Energy, Gaurav Shekhri, Director, Tinna Group, Rajiv Podar, Managing Director, Podar Enterprises.
