Muscat, Oman’s inward investment and export
promotion agency, Ithraa, will lead a delegation of 13 high-profile
organizations to the State of Gujarat in an effort to connect with Indian
investors looking for commercial opportunities in the Sultanate.
The delegation will be led by Yahya bin Said al-Jabri, Ithraa’s
Chairman. The Omani delegation will participate at the Vibrant Gujarat
Summit in Ahmedabad where they will present on a range of
investment opportunities in the sultanate, as well as highlighting the
support available for Indian companies considering setting up
operations in Oman.
The delegation’s visit to India, which starts tomorrow Thursday,
comes at a time when India is emerging as perhaps the strongest
player among the BRIC nations – Brazil, Russia, India and China. While
global and domestic headwinds are affecting growth in the Brazilian,
Chinese and Russian economies, India is growing at a rate of 7% per
year, putting it neck and neck with China.
Nasima bint Yahya al-Balushi, Ithraa’s Director General of Export
Development commented: The Sultanate and India share a long-
standing and highly collaborative trade relationship, one that fuels
prosperity in both countries. Indeed, we strongly believe the
Sultanate’s a great place for Indian investment. Our strategic location,
quality of life, infrastructure, stability and transparency of our political,
legal and regulatory environment, breadth and depth of investor pool,
entrepreneurial culture plus the wide range of support offered by
government to foreign investors are all key strengths.
Oman-Indo investment flows, estimated at around $7.5 billion, have
been robust over the past few years, particularly in iron and steel,
cement, fertilizers, textiles, cables, chemicals and automotive.
Commenting on the upcoming Ahmedabad visit, Al Balushi
explained: while the global success of companies such as Tata and
Infosys is well known, the quality of Indian SMEs has improved
significantly over the past 10 years, and many are looking to enter the
growing GCC markets using Oman as their gateway. We’re particularly
focused on attracting firms working in manufacturing, mining, logistics
Source: Oman News Agency