India, Oman to hold meeting to boost economic ties

Tags: International Relations

The commerce and industry ministers of India and Oman will meet on May 11 to discuss ways to further boost economic ties between the two countries.

  • The 48-member delegation will include senior officials and business representatives from health, pharmaceuticals, mining, tourism, energy, shipping, telecommunications and real estate.

  • During the visit, senior officials from both sides will participate in the 10th session of the India-Oman Joint Commission Meeting (JCM) to be held on May 11.

  • The meeting will be co-chaired by Commerce and Industry Minister Piyush Goyal and his Omani counterpart.

  • The India-Oman Joint Business Council (JBC) meeting will be organised jointly by FICCI and Oman Chamber of Commerce and Industry on May 12.

  • Bilateral trade between India and Oman

  • Bilateral trade between the two countries has grown by 82 percent to $9.94 billion in 2021-22.

  • Major items of Indian exports to Oman - mineral fuels, textiles, machinery, electrical items, chemicals, iron and steel, tea, coffee, spices, rice, meat products and seafood.

  • Major import items from Oman to India - urea, LNG, polypropylene, lubricating oil, dates and chromite ore.

  • Various Indian financial institutions and PSUs have a presence in Oman.

  • Military exercises 

  • Army exercise between both countries : Al Najah

  • Air Force exercise between both countries : Eastern Bridge

  • Naval Exercise between both countries : Naseem Al Bahr

  • About Oman

  • It is a country in Western Asia.

  • It is located on the southeast coast of the Arabian Peninsula, and extends to the mouth of the Persian Gulf.

  • Oman shares land borders with Saudi Arabia, the United Arab Emirates, and Yemen

  • It shares maritime borders with Iran and Pakistan.

  • Capital - Muscat

  • currency - omani rial 

  • president - Haitham bin Tariq Al Said

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