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Indian Embassy Hosts INVEST IN INDIA Seminar to Promote Omani Investments into India

Posted on: January 21, 2016 | Back | Print

An important pillar of India’s strategic partnership with Oman is the growing mutual investment and trade. Mutual investment between the two countries has been growing and is estimated at over $ 7.5 billion. The first tranche of India-Oman Joint Investment Fund of $ 100 million has already been invested and discussions are underway to finalise the second tranche of $ 300 million. There is a huge un-tapped potential. The fundamentals of India’s economy remain strong and it is poised to grow at a fast pace in future. The fast-growing economy of India offers immense opportunities for foreign direct and portfolio investments from Oman.

Indian Embassy in Muscat has accorded a high priority to explore and utilize every available opportunity to enhance interactions with the Omani Business Community as well as Indian Business Community in Oman. Even though Omani business community is familiar with the investment opportunities in India, it has been felt that there is a need to highlight the new initiatives taken by the present Government of India, aimed at making India an attractive place to do business and make investments.

With a view to reach-out to Omani and Indian Business Communities in Oman, the Embassy of India, Muscat organised an ‘Invest in India’ Seminar on 20th January 2016 at the Embassy’s Auditorium. The Seminar focused on giving a broad overview of India’s economy, in light of the recent initiatives taken by the Government of India to make India more investor and business friendly. The purpose of the Seminar was to inform key Omani enterprises, business houses, investments funds and banks to make them aware of the investment opportunities available in India. It was attended by around 250 Omani businessmen, representatives of Omani representatives of Government of Oman, relevant organisations from the economic, financial, trade and investment sectors, financial institutions, Chambers of Commerce, etc. Honourable Minister of Commerce and Industry, HE Dr. Ali Bin Masoud Al Sunaidy, was the Chief Guest. ‘Invest in India’ Seminar provided a useful opportunity to learn more about the growing salience of India as an increasingly attractive destination for Omani investments.

There were presentations at the Seminar by representatives of Invest India, which is a joint venture of FICCI and Ministry of Commerce of India, and three key States of India: Gujarat, Kerala and Maharashtra. There were also presentations by the Institute of Chartered Accountant of India (ICAI), Deloitte, Earnst & Young and KPMG. Further, Mr. Mohammed Al Barwani, Chairman, MB Group of Oman shared his experience of doing business in India.

Ambassador in his keynote address underlined that India is the best destination for Omani investment due to geographical proximity between the two countries, excellent relations between them, familiarity with India, large size of India’s market, availability of technical and skilled human resource and the high return on investments which India offers. The seminar was successful in generating interest in India’s investment potential and is expected to give a boost to mutual investment and trade.

Muscat, 21 January 2016