December 03, 2008

India Oman trade jumps by 66% YoY to USD 1.5 billion

Trade between India and Oman has registered the highest growth rate of 66% YoY and amounted to USD 1.5 billion in 2007 from USD 900 million in 2006.

Mr Anil Wadhwa Indian Ambassador to Oman said that India Oman economic and commercial relations have gained sufficient momentum in recent years to lend a strategic nature to the bilateral engagement. He added that "The political relations between India and Oman are guided by mutual respect and commonality of views on major regional and international issues."

Recent years have witnessed a two way flow of significant investments in various fields, including oil and gas, heavy engineering, chemicals and pharmaceuticals, IT and infrastructure.

Mr Wadhwa mentioned that the steady growth of tourists traffic between the 2 countries was a result of increase in air connectivity between the two countries.