Muscat – The Oman–India Business Forum, held at Al Bustan Palace Hotel on Thursday, focused on reviewing promising investment opportunities in Oman and strengthening economic partnership with India. The forum aimed to elevate bilateral relations and establish innovative channels for cooperation between the public and private sectors in both countries.
The event was organised by the Oman Chamber of Commerce and Industry (OCCI), in cooperation with the Ministry of Commerce, Industry and Investment Promotion (MoCIIP), on the occasion of Indian Prime Minister Narendra Modi’s visit to Oman.
In his address at the forum, Prime Minister Modi reaffirmed the shared commitment of both countries’ leadership to elevate economic relations to an advanced level and promote private-sector investment in high-potential sectors.
He said the strategic partnership between India and Oman marks a clear new direction in bilateral relations, one that is set to propel ties to greater heights. He emphasised that the relationship, built on deep mutual trust and a spirit of enduring friendship, has continued to grow stronger and more profound over time.
The Indian Prime Minister added that the landmark Comprehensive Economic Partnership Agreement (CEPA) would serve as a catalyst to boost investor confidence, unlock new opportunities across all sectors of the economy, and create significant prospects for growth, innovation and youth employment in both countries.
He also highlighted recent amendments to India’s labour laws, improvements in the ease of doing business, and opportunities for cooperation in emerging fields such as green hydrogen, green ammonia, solar power and clean energy. He stressed the importance of establishing joint innovation centres and shared financing mechanisms to support more than 200 companies in both countries.
Speaking at the forum, H E Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, underscored the need to pursue more ambitious goals for the continued development of bilateral cooperation. He said the signing of the Comprehensive Economic Partnership Agreement marks a decisive commitment to expand economic and investment cooperation and unlock new avenues for shared growth.
H E Yousef emphasised the importance of establishing a structured follow-up mechanism to monitor the CEPA’s implementation and ensure its benefits are fully realised. He informed that an Omani committee will be formed to maximise the advantages of the pact, while the existing Oman–India Joint Committee will oversee its execution.
In his remarks, Piyush Goyal, India’s Minister of Commerce and Industry, described the CEPA as a historic achievement that would promote shared prosperity. He said the pact would boost bilateral trade, streamline business procedures, remove barriers to the movement of goods and services, and enhance market access for businesses in both countries.
He highlighted the growing economic momentum between the two nations and stressed the importance of diversifying and strengthening commercial engagement, particularly in sectors such as investment, tourism, innovation and technology.
