Business | Economy
India-Oman non-oil trade to cross $2b this year
Non-oil trade between India and Oman is expected to cross $2 billion this year, according to Indian Ambassador to Oman Anil Wadhwa.
- By Sunil K. Vaidya, Bureau Chief
- Published: 21:19 August 4, 2008
Muscat: Non-oil trade between India and Oman is expected to cross $2 billion this year, according to Indian Ambassador to Oman Anil Wadhwa.
Addressing the third meeting of the recently launched India-Oman Business Forum (IOBF) at the embassy auditorium, the ambassador lauded the role played by the forum in dissemination of business information and furthering trade relations between India and Oman.
"Non-oil bilateral trade in the first quarter of 2008 registered an impressive growth of 35-40 per cent and is poised to cross $2 billion by year-end," he told the gathering of prominent Indian and Omani businessmen.
The total trade between the two countries during 2007, including Omani LNG exports, stood at $1.8 billion, up by 98 per cent as compared to the previous year.
Wadhwa underscored the coincidence that infrastructure, real estate and construction sectors had been a major engine of economic growth in both India and Oman. The IOBF is an informal association comprising Indian and Omani business leaders.
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