MUSCAT : In an exclusive press conference at the Indian Embassy in Oman, HE Ambassador Srinivas called the visit “very timely,” and said it comes at a crucial juncture, eight years after PM Modi’s last visit and two years after the Sultan of Oman’s state visit to India. He noted that leadership-level engagement would provide strategic direction to expand trade, investment and future-oriented cooperation. “Economic ties are a strong pillar of our partnership. We are hopeful that with this visit, further direction will be given to strengthen the relationship and grow it across all avenues,” he said.

Bilateral trade currently stands at around USD 10.4–10.6 billion, up from USD 8.8 billion earlier, driven largely by energy exports, including oil and related products. However, both countries are keen to diversify beyond energy. Indian investments in Oman already span metallurgy and steel, with new growth areas such as green hydrogen and sustainable development gaining traction.

A key focus of the discussions is the proposed Comprehensive Economic Partnership Agreement, often referred to as the India–Oman FTA. His Excellency said “Free trade agreement between India and Oman, has been under discussion for the past 2 years. Both sides have gone through a lot of detail about the respective areas of interest to each other, we are only hopeful that this agreement will be concluded at the earliest opportunity.”

His Excellency explained that the FTA could potentially double trade volumes within five years, supported by tax incentives, sectoral diversification and strong locational advantages.

He also highlighted Oman’s strategic geography, close to India, the GCC, Africa and major shipping routes, as a major draw for Indian businesses, while India’s fast-growing economy offers scale and opportunity for Omani investors.

Talking about Comprehensive Joint Partnership Agreement, HE mentioned that, “We have negotiated, hoping that we will be able to sign it as soon as possible, the expectation is that it will be double, triple, within 5 years, the possibility of a double will be seen.”

PM Modi’s visit, though less than 24 hours, will feature a packed agenda, including delegation-level talks with the Sultan of Oman, a one-to-one meeting, participation in a business summit, and interactions with the Indian diaspora and students. The visit coincides with the 70th anniversary of diplomatic relations between India and Oman and the 50th year of the CBSE education system’s presence in the Sultanate.

Ahead of his departure, PM Modi said he looked forward to strengthening the India–Oman Strategic Partnership and commercial relationship, while acknowledging the Indian community’s contribution to Oman’s development. Both sides are expected to comprehensively review cooperation across trade, investment, energy, defence, technology, agriculture and culture, alongside regional and global issues of mutual interest.

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