On Wednesday 18th July 2018 the Oman Business Forum hosted an exclusive working lunch in honor of the business delegation accompanying His Excellency Suresh Prabhu, Minister of Commerce and Industry and Civil Aviation of the Republic of India who is visiting the Sultanate to attend the 8th session of the Oman-India Joint Committee and the 9th session of the Oman-India Joint Business Council. The event was organized in close coordination between Omani businesspeople - members of Oman Business Forum, the Embassy of the Republic of India in Muscat and the Federation of Indian Chambers of Commerce and Industry (FICCI). The delegation of Indian business people represents multiple industries such as information technology, agriculture, export and international trading, transportation and chemicals.
This visit comes on the heels of the visit of Prime Minister Shri Narendra Modi to Oman in February 2018 which helped deepen the comprehensive partnership and cooperation framework between the two countries and further develop the excellent bilateral relationship in all spheres.
There are over 2900 Indian enterprises and establishments in Oman with an estimated investment of US$ 7.5 billion. The Oman-India Joint Fund (OIJF), a JV between the State Bank of India and the State General Reserve Fund (SGRF) of Oman, a special purpose vehicle to invest in India. Bilateral economic ties have witnessed significant developments in last few years; currently, there are around 3000 joint ventures between Indian and Oman i partners with a total investment of approximately $7.5 billion.