Union Minister of Commerce and Industry, Piyush Goyal, concluded a successful visit to the Sultanate of Oman, where he co-chaired the 11th session of the India-Oman Joint Commission Meeting (JCM) with Qais bin Mohammed Al Yousef, Oman’s Minister of Commerce, Industry, and Investment Promotion. Discussions focused on enhancing bilateral trade, investment, technology collaboration, food security, and renewable energy.
Both sides reviewed economic relations and identified concrete steps to strengthen business ties. They also exchanged views on the India-Oman Comprehensive Economic Partnership Agreement (CEPA), currently in advanced negotiations, and agreed to expedite discussions for an early signing to boost trade and investment.
A Protocol to amend the India-Oman Double Taxation Avoidance Agreement (DTAA) was signed, aligning it with international taxation standards. Goyal met key Omani leaders, including Deputy Prime Minister Sayyid Asa’ad bin Tarik Al Said, Finance Minister Sultan bin Salem Al Habsi, and Ali bin Masoud Al Sunaidy, chairman of the Public Authority for Special Economic Zones and Free Zones (OPAZ), to strengthen economic ties.
The minister participated in the India-Oman Joint Business Council (JBC) meeting, hosted by the Oman Chamber of Commerce and Industry (OCCI) with support from FICCI, and engaged with Omani business leaders at a Business Roundtable organized at the Indian Embassy.
Goyal addressed the Future Leaders Programme at the Royal Academy of Management, Oman, sharing insights on India’s economic growth and leadership. He also visited the Sultan Qaboos Grand Mosque and is set to offer prayers at the historic Shiva Temple in Muscat, underscoring deep cultural and people-to-people ties between India and Oman.