Key Highlights of Bilateral
Relationship between India and Oman (updated as on October 2014)
The Sultanate of Oman is a
strategic partner in the Gulf and an important interlocutor in the bilateral,
AGCC and OIC contexts. Oman also accords a high priority to its ties with
India. India and Oman are linked by geography, history and culture. Both
countries enjoy warm and cordial relations, which can be ascribed to historical
maritime trade linkages, intimacy of the royal family with India and the
seminal role of the Indian expatriate community in the building of Oman, which
is acknowledged by the Omani Government.
Indian Diaspora in Oman:
·
Non Residents Indians (NRI): 556000 (February 2010)
·
Overseas Citizen of India (OCI): 1713 (February
2010)
·
Total Indian Community: 557713 (February 2010)
·
Remittance inflows (US$ Million): 2613.97 (2012)
India’s trade with Oman
·
Export (US$ Million): 1049.69 (April-August 2014)
·
Import (US$ Million): 1034.44 (April-August 2014)
·
Total (US$ Million): 2084.13 (April-August 2014)
·
Trade Balance (US$ Million): 15.25 (April-August
2014)
Bilateral Investment with Oman
·
Investment inflows (US$ Million): 5.34 (2014-upto
July 2014)
·
Investment outflows (US$ Million): 16.164 (August
2014)
Bilateral Tourism with Oman
·
Outbound : 158739 (2010)
·
Inbound : 62252 (2013)
Bilateral Agreements: MoUs on Combating Crime, Cooperation in
Agriculture, Civil Aviation, Cooperation between the State Audit Institution of
Oman and the office of the Comptroller and Auditor General of India, Avoidance
of Double Taxation, Bilateral Investment Promotion and Protection, Treaty of
Extradition, MoU on Manpower, MoU on Joint Investment Fund and MoU on Cultural
Cooperation, etc.
Related Links
The 7th India-Oman Joint
Commission meeting was held under the leadership of the Minister of State
(Independent Charge) in the Ministry of Commerce & Industry Smt. Nirmala
Sitharaman and His Excellency Dr Ali bin Masoud al Sunaidy, Minister of
Commerce & Industry, Oman, here today.
India and Oman Sign Mutual Legal Assistance Agreement
The Union Home Minister Shri Rajnath
Singh and the Minister of Commerce & Industry, Sultanate of Oman, Dr. Ali
Bin Masoud Al Sunaidy signed ‘Agreement on Legal and Judicial Cooperation in
Criminal Matters’ between the two countries, here today.
Bank Muscat arranges $725mn term loan for Jindal’s Oman steel plant
Bank Muscat and India’s
industrial conglomerate Jindal Group marked a celebration in New Delhi to
commemorate the successful financial closure of US$725mn facility for Jindal
Shadeed Iron & Steel.
‘Know India Seminar’ on October 26, 2014 at Hotel Crowne Plaza , Muscat
India Tourism, Dubai in association
with the Embassy of India, Muscat organized the ‘Know India Seminar’ on October
26, 2014 at Hotel Crowne Plaza , Muscat for promoting the Ministry of Tourism,
Govt. of India’s latest Campaign “Find What You Seek’ and ‘India- A 365 days
destination’.
FICCI Infra delegation visits Oman from October 19-22, 2014
6-member FICCI Infra delegation
visited Oman from October 19-22, 2014 to participate in ‘Infra Oman' exhibition
at Oman International Exhibition Centre, Muscat. On the sideline of Infra Oman
exhibition, the delegation also visited Sohar Free Zone and Port of Sohar to
explore business opportunities available in shipping, cargo handling, infrastructure/construction
and heavy engineering sector.
Commerce and Industry Minister of Oman called on India’s president
Speaking on the occasion, the
President said India’s relations with Oman are built on the strong foundation
of historical and civilizational linkages. India appreciates and values the
strategic partnership reflected in the remarkable growth in the two countries
overall relationship in recent times. Bilateral trade between India and Oman
has increased from US$ 4.6 billion in 2012-13 to US$ 5.77 billion in 2013-14.
However, trade remains much below its potential and both sides need to bring it
to a higher level commensurate with the depth of the bilateral relationship.
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