12-May-2022: India considering a Preferential Trade Agreement (PTA) with Oman- Shri Piyush Goyal

The Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyal today said that India was considering entering into a Preferential Trade Agreement (PTA) with Oman.

He was delivering the Keynote Address at the 10th Meeting of India-Oman Joint Business Council (JBC) in New Delhi today. He also added that India was already looking at a comprehensive trade agreement with Gulf Cooperation Council (GCC) nations, of which Oman is an important member.

The Minister said that the Joint Commission Meeting (JCM) that took place yesterday between India and Oman, that had been long overdue, was a very productive one. He expressed confidence that the discussions with business leaders on both sides would complement the discussions under JCM, come up with new ideas to boost our already deep bonds of friendship, and turn our vision into reality.

Observing that India and Oman have been connected for more than 5,000 years through friendship and brotherhood and very warm and strong people-to-people ties, the Minister said that despite such close relations, the bilateral trade and investment in the two nations were yet to reach maximum potential.  Shri Goyal stressed that all the engagement that happened in the JCM, the friendship between him and his counterpart in Oman, the visionary leadership of the heads of both nations and the warm people to people ties between the two nations should and must lead to significant increase in business to business engagement.

Paying his respects to Late HM Sultan Qaboos, Shi Piyush Goyal said that he was held in very high esteem in India and was conferred the Gandhi Peace Prize. He was one of the architects of close India-Oman bilateral relations, the Minister added. We owe it to him to strive to transform his vision into reality and take the partnership between India and Oman to the heights it truly deserves, the Minister noted.

He expressed confidence that the Joint Business Council (JBC) will supplement the efforts of govts of both countries to deepen engagement. He underscored that these agreements would only reach their true potential if businesses display that enthusiasm which will in turn help political leadership take bold decisions. He urged businesses in both nations to look at new opportunities, especially in services, investment, food security, sustainability, renewable energy and startups.

The Minister acknowledged the care, concern and love that was showered on expatriate Indians by the people of Oman, especially during the pandemic. He added that Oman was the 1st country in the GCC to authorize the use of India made Covaxin. Referring to cultural and culinary affinities between the two nations, the Minister said that these ties have brought the people of both the nations even closer.

The Minister invited Government of Oman to increase their pharma trade with India. Mentioning the market study on the cooperation in the pharma sector that was unveiled at the JCM yesterday, the Minister expressed confidence that the report would be invaluable to Indian companies wishing to enter Omani market. Our pharma companies will bring quality products at competitive prices to consumers in Oman and help bring down the cost of healthcare, he assured. He also thanked Oman for agreeing to fast-track approval for Indian medicines that had already been cleared by strong regulatory environments like UK, EU AND USA.

The Minister urged both nations to leave no stone unturned when it comes to working together to improve lives of people in India and Oman.

H.E. Qais bin Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion of the Sultanate of Oman said that the two nations had a successful Joint Commission Meeting and added that India and Oman had great trust and confidence in each other. He also invited Indian companies to invest and do business in Oman.

H.E. Qais bin Mohammed Al Yousef, Minister of Commerce, Industry & Investment Promotion of the Sultanate of Oman, H.E. Sheikh Hamad Bin Saif Bin Abdul Aziz Al-Rawahi, Ambassador Extraordinary and Plenipotentiary, Sultanate of Oman, Shri Amit Narang, Indian Ambassador to Oman, captains of Indian and Omani industry and other dignitaries were present on the occasion.

11-May-2022: Oman to fast-track approval of Indian pharma products registered by USFDA, UKMHRA and EMA

The 10th Session of the India-Oman Joint Commission Meeting (JCM) was held on 11 May 2022 in New Delhi. It was co-chaired by Shri Piyush Goyal, Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles, Government of India and H.E. Mr. Qais bin Mohammed al Yousef, Hon’ble Minister of Commerce, Industry and Investment Promotion of the Sultanate of Oman, who is in India now with a 48-member delegation comprising senior officials and business leaders.

Significant Outcomes of the 10th India-Oman JCM:

With forward-looking and solution-oriented deliberations, the JCM witnessed significant progress on all matters of mutual interest across the entire gamut of bilateral economic relations between the two countries. Some of the important outcomes of the meeting are summarized below:

Fast tracking of approvals for registration of Indian pharmaceutical products already registered by USFDA, UKMHRA and EMA was agreed to during the deliberations.

Joint release of a Market Research Report commissioned by the Embassy of India, Muscat on Pharmaceutical sector in Oman highlighting strategies and opportunities for Indian companies in Oman in this sector.

Appreciation by India for the signing and ratification of International Solar Alliance (ISA) Framework Agreement by Oman and for acceptance of the Green Grids/'One Sun One World One Grid' (OSOWOG) initiative of Prime Minister Narendra Modi for connecting solar energy supply across borders.

Expression of commitment from both sides to facilitate trade and to comprehensively address all issues pertaining to Tariff/Non-Tariff Barriers.

Agreement on expeditious conclusion of all Memorandum of Understanding (MoUs)/ Agreements under discussion, including on standards and metrology, India-Oman Double Taxation Avoidance Agreement, India-Oman Bilateral Investment Treaty, Invest Oman and Invest India, and RuPay card acceptance in Oman etc.

Enhance collaboration across a range of fields with particular emphasis on the 3Ts (Trade, Technology, Tourism), food & agriculture, renewable energy including Green Hydrogen and Green Ammonia, health and pharmaceuticals, mining, manufacturing, IT, sports, culture, youth and tourism. 

Bilateral trade has been witnessing robust growth increasing from US$ 5.4 billion in 2020-21 to US$ 9.94 billion during 2021-2022, an impressive annual growth of 82.6%. Indian firms have invested heavily in Oman in various sectors like iron and steel, cement, fertilizers, textile, cables, chemicals, automotive, etc.  There are over 6,000 Indian enterprises and establishments in Oman with an estimated investment of US$ 7.5 billion.  Cumulative FDI equity inflows from Oman to India during the period April 2000-December 2021 have amounted to USD 558.68 million.

H.E. Minister Qais of Oman extended a cordial invitation to CIM Shri Piyush Goyal to visit Oman in 2023 for the next session of the JCM. CIM accepted the invitation with pleasure. The dates will be decided through diplomatic channels.

A meeting of the India-Oman Joint Business Council is scheduled to be held tomorrow at 11:00 AM at Hotel Leela Palace, New Delhi. Large participation of business and investor communities from both the countries is expected at the event.

24-Mar-2022: India and Oman agree upon programme of scientific and technological cooperation

India and Oman will work together in certain areas like sustainability scientific harnessing of resources under a Programme of Cooperation (POC) in the fields of Science and Technology was signed between them.

The areas of cooperation identified based on the POC for the period 2022 – 2025 are Medicinal Plants and processing, Real-time Air Quality Monitoring,  Development of an electronic platform for knowledge sharing in the field of Genetic Resources, Technical expertise for SMEs in the field of sustainability (Eco-Innovate) Accelerator,  Plastic Bio-fuel, and Bio-diesel Research (Example: Low-temperature Bio-diesel production, Extraction of high-value products from produced water with oil), Software development for Graduate Programs – Linking Industry with Academia, Blockchain and FinTech solutions, Training programmes – Big-data, coding & testing, STEM teaching and other areas of S&T cooperation added by mutual consent.

The POC document was signed by Secretary, Department of Science and Technology (DST), and Omani Foreign Secretary, on behalf of the Government of the Sultanate of Oman during the bilateral meeting between Dr. S Jaishankar, Union Minister of External Affairs of the Government of India and Sayyid Badr Albusaidi, Foreign Minister of Oman on 23rd March 2022.

The Department of Science & Technology, Ministry of Science & Technology, on behalf of Government of the Republic of India and the Office of Science, Knowledge & Technology Transfer, Foreign Ministry, on behalf of the Government of the Sultanate of Oman, will supervise, coordinate and implement the POC for India and Oman, respectively.

Under the agreement, both countries will support joint scientific projects based on mutual interest, developed jointly by the Indian and Omani institutions. They will encourage exchange of scientists, researchers, experts, and specialists for the implementation of selected joint projects aimed at developing applicable technology. This will lead to the dissemination of research results and establishing contacts with industry for the follow-up of research and development work. The countries will also hold at least one workshop each year – alternatively in India and in Oman during 2022 – 2025 period in mutually acceptable areas.

The POC for Cooperation in the fields of Science and Technology for the period 2022 – 2025 was signed in pursuance of the Agreement for Cooperation in Science and Technology concluded on 5 October, 1996 between the Government of Oman and the Government of India.

1-Feb-2022: India & Oman review progress in military-to-military engagements during 11th Joint Military Cooperation Committee Meeting in New Delhi

Secretary General at the Ministry of Defence, Oman Dr Mohammed Bin Nasser Bin Ali Al–Zaabi called on Raksha Mantri Shri Rajnath Singh in New Delhi on February 01, 2022. They discussed ways to enhance defence cooperation between the two countries. The Secretary General at the Ministry of Defence, Oman also briefed Shri Rajnath Singh about the 11th India–Oman Joint Military Cooperation Committee Meeting (JMCC) on bilateral defence cooperation which was held in New Delhi on January 31, 2022.

The JMCC meeting was co-chaired by Defence Secretary Dr Ajay Kumar and Secretary General at the Ministry of Defence, Oman. During the meeting, the two sides reviewed the progress made in military-to-military engagements, including joint exercises, industry cooperation and various ongoing infrastructure projects. It was decided to identify new avenues and examine areas of mutual interest for Joint Venture in order to enhance defence industry cooperation. Conduct of Humanitarian Assistance and Disaster Relief (HADR) exercise involving the three services and enhancing the scope and complexities of the existing joint exercises were also discussed. Both the countries agreed to work together to combat the issue of drug trafficking prevalent in the North Arabian Sea.

It was agreed to hold the next JMCC in Oman on mutually convenient dates. The JMCC is the apex body between the Defence Ministries of India and Oman to comprehensively review & guide all aspects of bilateral defence cooperation.

The Secretary General also called on the three Service Chiefs and met with the CEOs of Indian Defence Industries. He will be visiting Cochin Shipyard Limited, Military Training Establishments and the Indigenous Aircraft Carrier Vikrant, during his stay.

27-Sep-2021: Signing of MoU on white shipping information exchange between Indian Navy and Royal Navy of Oman

Rear Admiral Saif bin Nasser bin Mohsen Al-Rahbi, Commander of Royal Navy of Oman (CRNO) and Admiral Karambir Singh, Chief of the Naval Staff (CNS), Indian Navy signed an MoU for exchange of White Shipping Information on 27 September 2021. The MoU was signed at Maritime Security Center (MSC), Muscat during the ongoing visit of the CNS to Oman.

The signing of the MoU between Royal Navy of Oman and Indian Navy would facilitate information exchange on merchant shipping traffic, through IFC-IOR, India and MSC, Oman and contribute to enhanced maritime safety and security in the region.

20-May-2021: India & Oman renew MoUs on military cooperation & maritime issues

India and Oman renewed the Memoranda of Understanding (MoUs) on military cooperation along with its annexure as well as on maritime issues on May 20, 2021. The signing ceremony of MoU on military cooperation was held at the Ministry of Defense, Muscat. The document was signed by Secretary General of Ministry of Defense, Oman Dr Mohammed bin Nasser Al Zaabi and Ambassador of India to Oman Shri Munu Mahawar.

The MoU on cooperation on maritime issues was signed at the Maritime Security Centre by Commander of Royal Navy of Oman, the Head of Maritime Security Committee, Rear Admiral Saif bin Nasser Al Rahbi and Shri Munu Mahawar.

6-Jun-2018: Cabinet approves Memorandum of Understanding between India and Oman on Cooperation in the peaceful uses of outer space

The Union Cabinet was apprised of a Memorandum of Understanding (MoU) signed between India represented by the Indian Space Research Organization (ISRO) and Oman represented by the Ministry of Transport and Communications on Cooperation in the peaceful uses of outer space, in February, 2018 at Muscat.

This MoU shall enable the following areas of cooperation such as, space science, technology and applications including remote sensing of the earth; satellite based navigation; Space science and planetary exploration; use of spacecraft and space systems and ground system; and application of space technology.

The MoU would lead to set up a Joint Working Group, drawing members from DOS/ISRO, and the Ministry of Transport and Communication (MTC), which will further work out the plan of action including the time-frame and the means of implementing this MoU.

It will provide impetus to explore newer research activities and application possibilities in the field of remote sensing of the earth; satellite navigation; space science and exploration of outer space.

Implementation Strategy and Targets: The signed MoU would lead to setting up of a Joint Working Group, which will further work out the plan of action including the time-frame and the means of implementing the provisions of this MoU.

Benefits: MoU would lead to develop a joint activity in the field of application of space technologies for the benefit of humanity. Thus all sections and regions of the country will get benefited.

Impact: Cooperation with the Sultanate of Oman through this MoU would lead to develop a joint activity in the field of application of space technologies for the benefit of humanity.

Background: The Sultanate of Oman expressed interest to cooperate with Indian Space Research Organisation (ISRO) for building its space programme. A 4-member delegation from the Oman's Department of Communication visited ISRO in March 2011 and interacted with ISRO officials and also visited ISRO's technical facilities. The Sultanate of Oman conveyed interest to pursue cooperation on Space Applications with ISRO to the Ambassador of India to Oman in May 2016.

Accordingly, both sides arrived at mutually agreed version of MoU for in the peaceful uses of outer space and the same was signed between the Government of the Republic of India represented by the Indian Space Research Organization (ISRO) and the Government of the Sultanate of Oman represented by the Ministry of Transport and Communications on February 11, 2018 at Muscat.