Diplomacyindia.com


India invites investments from Omani companies

July 17
12:04 2018

New Delhi, July 17 The Indian government on Monday invited Omani companies to invest in India and benefit from Make in India programme aimed to encourage manufacturing, an official statement said.

The invitation was made by Commerce Minister Suresh Prabhu during the 8th India-Oman Joint Commission meeting in Muscat, where he highlighted several steps taken by the government to promote an investment-friendly environment in India, the Commerce Ministry statement said.

“India has launched several investment friendly programmes like Make in India with a trillion dollar business opportunity in the country,” he said, according to the statement.

“Participated in the India Oman Joint Commission Meeting today (Monday). Had very positive discussions on areas of mutual cooperation and growth like space, renewable energy, Startups, SMEs, Food security, tourism and services sector,” Prabhu tweeted.

“The Sultanate of Oman is a strategic partner of India in the Gulf. India’s major exports to Oman include petroleum (crude & products),basmati rice, iron and steel, ceramics, electronic components, etc. and it imports petroleum products, spacecraft & parts,bulk minerals, ores etc,” he said in another tweet.

Bilateral trade between India and Oman has increased to $6.7 billion in 2017-18 from $4.13 billion in 2014-15.

Indian financial institutions such as the State Bank of India, Bank of Baroda, HDFC and ICICI Securities, as well as public sector undertakings like Air India, Life Insurance Corporation, Telecommunications Consultants India, Engineers India and National Building Construction Company (NBCC) have their presence in Oman.

“India-Oman Joint Investment Fund, a joint venture between State Bank of India and State General Reserve Fund of Oman, a special purpose vehicle to invest in India, has been operational and the initial corpus of $100 million has been fully utilized,” the ministry said.

The joint investment fund has raised another $220 million in the second tranche which is being invested, it added.

Related Articles

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment

Your email address will not be published.
Required fields are marked *

Social Icons

Diplomacyindia.com Video Interview with Shri Dnyaneshwar M. Mulay Secretary (CPV & OIA), Ministry of External Affairs speaking on an eventful journey of Indian Passport through its serveral phases, fast expanding network of passport seva kendras, evergrowing numbers, citizen centric service & new Initiatives

Diplomacyindia.com Video Interview with Shri Dnyaneshwar M. Mulay Secretary (CPV & OIA), Ministry of External Affairs speaking on safety & security features of the passport documents in an era of digitalisation his cherished moments & milestones as “Passport Man” of India tranforming the entire passport landscape.

Diplomacyindia.com Video Interview : Mrs. Reva Ganguly Das (IFS) Director General, Indian Council of Cultural Relations Speaking on Yoga Day Celebrations

Exclusive Interview to Diplomacyindia.com with Shri Upendra Tripathi, IAS Interim DG, International Solar Alliance (ISA) speaking on the journey of ISA so far, guiding principles, vision & priority areas & programmes for ISA.

Exclusive Interview to Diplomacyindia.com with Shri Upendra Tripathi, IAS Interim DG, International Solar Alliance (ISA) speaking on expanding rank of international solar alliance & opening the membership to the countries beyond tropics.

Diplomacyindia.com Exclusive Interview with Ambassador of Slovenia to India, H.E. Mr. Jozef Drofenik speaking on Bilateral Relations and Trade between India and Slovenia

Diplomacyindia.com Exclusive Interview with Ambassador of Slovenia to India, H. E. Mr. Jozef Drofenik speaking on Tourism in Slovenia

Pictures of Formal Launch of Website Diplomacyindia.com

Knowledge Partner

Exclusive Interview with Prime Minister of Guyana, H.E. Mr. Moses Veerasammy Nagamootoo during his recent visit to India.Highlights of the interview were Indian Cultural Connect, Vibrant Bilateral Ties and Cultural Connect and India’s Economic Prowess.

Video Message from Shri Prakash Javadekar, MoS (IC) for Forest, Environment & Climate Change on eve of Formal Launch of Website Diplomacyindia.com

Message from Gen. V K Singh, (Retd.) Hon’ble MoS, External Affairs to Diplomacyindia.com

WP Facebook Auto Publish Powered By : XYZScripts.com