Page 4 - Oman

Likely pact with Oman comes as a welcome surprise in India's FTA drive

CEPA is also commonly referred to as a free trade agreement, or FTA. The next round of talks for it with Oman are scheduled to start on January 16

India-Oman free trade agreement to help boost apparel exports: AEPC

A free trade agreement with Oman will help boost apparel exports as huge business opportunities are there in the Gulf nation for Indian exporters, AEPC said on Thursday. Negotiations for the pact, officially dubbed as the Comprehensive Economic Partnership Agreement (CEPA), are moving at a fast pace. The Apparel Export Promotion Council (AEPC) said that the swift movement towards CEPA is encouraging and will be a game changer for India- Oman bilateral trade. The bilateral trade between the two countries stood at USD 12.39 billion in 2022-23, up from USD 9.99 billion in the previous year. "The RMG (readymade garments) exports to Oman grew from USD 13 million in 2020 to USD 28 million in 2021. The customs duty in Oman is 5 per cent on RMG products. Though it is a small market but has immense potential to grow once tariff is eliminated post-FTA and will be another doorway to GCC countries," AEPC Secretary General Mithileshwar Thakur said. The Gulf Cooperation Council (GCC) is a union

Indian Navy rescues injured crew member from hijacked Malta commercial ship

The injured crew member has a bullet injury near his shoulder and has been taken to Oman for specialised treatment under the care of Indian Navy doctors

Indian Navy evacuates injured sailor from ship hijacked off Somalia coast

The Indian Navy has evacuated one of the 18 crew members onboard a Malta-flagged hijacked cargo vessel off the coast of Somalia to provide medical care after he was injured by the pirates, officials said on Tuesday. It is learnt that the sailor, a Bulgarian national, was injured in firing by the pirates. The sailor was evacuated by frontline ship INS Kochi. "The Indian Navy rendered assistance in evacuation of an injured crew member from the hijacked vessel MV Ruen in the early hours of Monday," said an official. "The injured crew member had sustained injuries during the piracy incident but was reported to be stable. Towards ensuring his safety, the Indian Navy ship was successful in ensuring his release by the hijackers," he added. The official said the injured sailor has been taken to Oman. "The injured crew member was medically managed onboard the ship but due to urgent medical attention required, which was beyond the scope of the ship, he has been transferred ashore at Oman,"

President Murmu hosts Oman Sultan Haitham bin Tarik at Rashtrapati Bhavan

PM Modi and President Droupadi Murmu received the Sultan at the Rashtrapati Bhawan. Sultan Haitham bin Tarik then inspected a Guard of Honour by the combined defence services

India, Oman adopt vision document to expand bilateral cooperation

Earlier in the day, Prime Minister Narendra Modi held delegation-level talks with the Sultan of Oman, Haitham bin Tarik, at Hyderabad House in New Delhi

PM Modi holds talks with Oman's Sultan Tarik with focus on bilateral ties

Prime Minister Narendra Modi on Saturday held talks with Oman's Sultan Haitham bin Tarik with a focus on expanding bilateral cooperation in diverse areas, including trade and investment. The Sultan of Oman arrived in Delhi on a state visit on Friday, in his first trip to India as the top leader of the Gulf nation. "Giving a boost to India-Oman Strategic Partnership! PM @narendramodi warmly received His Majesty Sultan Haitham bin Tarik of Oman at Hyderabad House, setting the stage for bilateral discussions," External Affairs Ministry Spokesperson Arindam Bagchi said in a post on X ahead of the talks. "Agenda includes taking stock of bilateral ties and charting pathways for the future collaboration between the two countries," he said. In the morning, Sultan bin Tarik was accorded a ceremonial welcome at the fore-court of the Rashtrapati Bhavan. "This first state visit of His Majesty Sultan Haitham bin Tarik to India marks a significant milestone in the diplomatic relations between I

Indian officials in Muscat to negotiate free trade pact with Oman

It is learnt that the department of commerce has set an internal deadline of finalising the deal by month-end

Indian goods worth $3.7 billion entering Oman to get boost by FTA: GTRI

Over 83.5 per cent of Indian goods worth USD 3.7 billion such as gasoline, iron and steel, electronics, and machinery will get a significant boost in Oman, once both sides reach a comprehensive free trade agreement, a report said on Tuesday. According to the - India-OMAN CEPA: Gateway to Middle Eastern Markets and Beyond - report, prepared by think tank Global trade Reproach Initiative (GTRI), these goods at present face a 5 per cent import duty in Oman. India and Oman are negotiating a comprehensive economic partnership agreement (CEPA), under which the two countries could significantly reduce or eliminate customs duties on the maximum number of goods agreed between them. With the new trade agreement, these products, including major export items like motor gasoline (exports worth USD 1.7 billion), iron and steel products (exports worth USD 235 million), electronics (USD 135 million), machinery (USD 125 million), aluminium oxide (USD 126 million), textiles (USD 110 million), alumina

Here's why Oman emerging as new choice for Indian destination weddings

There has been an almost two-fold rise in the number of Indian weddings that took place across various star-category properties located across Oman this year, compared to the corresponding period last year, officials said. A representative of the Ministry of Heritage and Tourism, Sultanate of Oman said Omani officials began communicating with Indian wedding planners many years ago to promote the Sultanate as a potential location for Indian couples looking to experience the warmth and beauty of the country as a wedding destination. Oman is closer and has better airline connectivity to India than other preferred destinations by Indian couples. It is also the perfect location for visitors coming from Europe and other parts of the world to attend Indian weddings, says Arjun Chadha, Country Manager India, Buzz Travel Tourism. Salalah, with its natural topography, global hospitality brands and seamless infrastructure, is among the most sought-after destinations perfectly suited for unique

India is leading digital transformation race: G20 Oman Sherpa Pankaj Khimji

"Energy transition and climate change are really big issues and India is handling it very sensibly, by balancing both the developing and developed nations," said Sherpa

India's ACME Group gets $490 million in funding for Oman project

The facility is expected to produce 100,000 tons of green ammonia annually in its starting phase

ACME Group gets Rs 4,000-cr loan from REC for Oman green hydrogen project

Renewable energy firm ACME Group on Friday said it has tied up a Rs 4,000-crore loan from state-owned REC Ltd for its green hydrogen and ammonia project in Oman. The amount will be used to commence the first phase of the project, to be established at the Special Economic Zone (SEZ) in Duqm, Oman, a company statement said. Once the first phase is ready, about 100,000 tonnes of green ammonia is expected to be produced per annum initially, which will subsequently go up to 1.2 million tonnes a year. The project will be powered by a 5.5-GWp solar PV plant and have the capacity to generate 3.5 GW electrolyser, the statement said. "Diversified renewable energy company ACME Group announced securing Rs 4,000 crore loan from REC Ltd for its green hydrogen and green ammonia project in Oman," it stated. The ACME Group also announced the signing of a Memorandum of Understanding (MoU) with REC Ltd for a Rs 21,000-crore loan to set up four major renewable projects in the country. The MoU was sig

CWC Qualifier: Netherlands go past Oman easily, keep World Cup hopes alive

The Netherlands beat Oman, thanks to Vikramjeet Singh's century and Wesley Baressi's 97. They scored their Baressisecond-highest ODI total and defended it easily to keep World Cup qualification hopes

CWC Qualifier preview: Netherlands face Oman in a must-win super-six game

The Netherlands have two points from three games and in their remaining two games, they must win to have any hopes of making it to the ODI World Cup 2023. Oman are already out of the reckoning

CWC Qualifier preview: Red-hot Zimbabwe face Oman in super six opener

Zimbabwe who have won six matches back-to-back, will be targeting two points as well as their longest winning streak in ODI history as they face Oman in super six opener

CWC Qualifier Day 10 preview: SL, SCO fight for four wins; IRE for first

With all teams decided for the super six stage in Group B, Sri Lanka and Scotland would fight to get to the numero uno position on the table. Ireland would look to avoid wooden spoon as they face UAE

NSA Doval meets top leadership of Oman, focus on boosting bilateral ties

National Security Adviser Ajit Doval on Monday met Oman's top leader Sultan Haitham bin Tarik in Muscat and handed over a written message from Prime Minister Narendra Modi that dealt with various aspects of the ties between the two countries. Separately, Doval also held talks with Oman's foreign minister Sayyid Badr Hamad Al Busaidi with a focus on possible bilateral cooperation in the spheres of technology, military matters and mining, the Oman News Agency reported. On behalf of the government of Oman, Sayyid Badr congratulated India for successfully hosting G20 meetings. Doval called on Sultan Haitham at the Al Baraka Palace and handed over Modi's message to him, the news agency said. It said Sultan Haitham and Doval explored ways to expand bilateral relations and exchanged views on various issues of common interest. Doval conveyed to the sultan greetings from the prime minister and wished for Oman's progress and prosperity. Sultan Haitham reciprocated the greetings and wishes.

CWC Qualifier Day 8 Report: Sri Lanka crush Irish dreams, Oman qualify

Sri Lanka rode on Dimuth Karunaratne's maiden ODI ton to hand Ireland a crushing defeat and first-round exit from the World Cup qualifiers. In another game, Scotland won against Oman

CWC Qualifier Day 8 preview: Ireland fight for survival, Oman face Scotland

Group B at CWC Qualifier will get interesting as Ireland will fight for survival against Sri Lanka. Oman and Scotland will face each other in a battle to determine who will finish second in the group