India-Oman Business Meet focuses on prospects in Building & Construction sector

A 23-member delegation of exporters from India, who are exhibiting at the Oman Design & Build Week (ODBW) and Oman Real Estate Exhibition (OREX), also participated in an India-Oman Business Meet on the Building and Construction sector on Tuesday.

The Business Meet – the first such B2B event organised by the Embassy in the post-pandemic era – was jointly inaugurated by Eng Ridha al Saleh, Chairman, Oman Chamber of Commerce and Industry (OCCI) and Indian Ambassador Amit Narang.

Speaking on the occasion, Ridha al Saleh said trade between the Sultanate of Oman and India is currently worth around $5 billion. “There is good investment between both countries, so I believe there is space for us to expand further, especially in the sectors of tourism, logistics, mining, industries and food security, in addition to other areas such as medical tourism, education, renewable energy — especially solar — and of course, Information Technology,” he stated, noting that currently there are more than 4,000 companies that are operating in the Sultanate of Oman.

Rajeev MC, Representative of the Federation of Indian Export Organisations (FIEO), said that Oman and India have good trade relations. “Many items are exported to Oman but now there are also value added products in the field of construction industries that hold huge potential to be exported to Oman.”

Ambassador Narang said the timing of the B2B meeting was apt as both the Sultanate of Oman and India are currently showing strong signs of an economic rebound.

“India is the fastest G20 economy. The country’s GDP is expected to grow in double digits for at least for one decade. That strong growth and dynamism is coming back. In Oman we have seen the recent economic decisions of the government that are pointing towards a direction of strong economic growth,” the Indian Ambassador said.

During the course of the event, participants shared their experiences and discussed business opportunities available to both sides in these sectors. From the Omani side, representatives of more than 30 companies and business houses representing the Construction and Infrastructure sector attended the event for B2B interactions with the Indian companies.