TPCI delegation meets Trade Minister of Oman
A delegation led by Trade Promotion Council of India’s Founding Chairman, Mohit Singla, met with Oman’s Minister of Commerce, Industry and Investment Promotion, Qais bin Mohammed al Yousef, at The Leela Palace, New Delhi on 12th May, 2022.
A delegation led by Trade Promotion Council of India’s Founder Chairman, Mohit Singla, met His Excellency Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, Sultanate of Oman, Hamed Saif Al Rawabi, the Ambassador of Oman, and Eng. Redha Juma Al Saleh, Chairman, Oman Chamber of Commerce, The Leela Palace, New Delhi on 12th May, 2022.
The meeting sought to discuss bilateral trade and investment opportunities in the food sector between India & Oman. The minister showed a keen interest in the frozen, fresh fruits and vegetable sector too. TPCI was also represented by Ashok Sethi, Director.
As of April-February 2021-22, Oman was ranked 31st in India’s top trade partners, with exports from India at US$ 2.4 billion and imports at US$ 5.8 billion. India accounts for around 10.2% of Oman’s F&B imports from the world, while Oman accounts for around 9.8% of India’s F&B exports. Interestingly, India is the second largest exporter of F&B products to Oman after the UAE.The delegation from Oman had important players representing diverse sectors like pharmaceuticals, shrimp & aqua culture, IT, tourism, mining, energy & food security.
The delegation led by TPCI had representatives from major member companies across various sectors such as food processing technologies, and food & beverage. The prominent ones included Shree Lal Mahal Agro Products Pvt Ltd.; G. D. Foods Manufacturing (I) Pvt Ltd; Richfield Industries Pvt Ltd; Unique Fragrances; V R Industires Pvt Ltd; Savour India Pvt Ltd, Swasthum Wellness Pvt Ltd; Keventer Agro Ltd; and Bveg Foods.
The delegates discussed the broad innovative trends across the business landscape in India and Oman and new business opportunities that the two trade partners can explore in terms of trade and investment across merchandise and service sectors and the various possibilities of collaboration. The Minister requested that we identify other products which could be of high priority in bilateral trade. The event generated several business inquiries.