No.PR-103 May 29, 2020 New Delhi India is a natural partner of Oman as it has proven to be a reliable supplier to Oman during COVID-19 Pandemic; H.E. Mr. Munu Mahawar, Ambassador of India, Muscat, Oman New Delhi, 28th May 2020: To understand the Challenges and Opportunities in Business and Trade promotion between India and Oman, PHD Chamber of Commerce and Industry hosted an interactive session on “India – Oman Business Promotion, Challenges, and Opportunities – Post-COVID 19” with H.E. Mr. Munu Mahawar, Ambassador of India, Muscat, Oman. H.E. Mr. Munu Mahawar, Ambassador of India, Muscat, Oman in his Guest address gave insights about the deep-rooted, long term relationship between India and Oman which has evolved into a multi-facet trade, economic and business partnership. India is one of the largest investors in Oman and we laud the presence of Indian brands in Oman. He further apprised the measures and reliefs given by Hon’ble Prime Minister Shri Narendra Modi to mitigate the impact of COVID-19 on economy, industry, and humanity and that the same time making India self-reliant for the future. H.E. Mr. Munu Mahawar said COVID-19 has been a disruption for the world. It has shown the strengthened relationship of India- Oman where India has proven to be a reliable supplier to Oman for help and support. He further talked about the proactive measures and steps taken by the Government of Oman which has led to lowering down the cases in Oman. His Excellency also highlighted that Oman relies a lot on Oil and Tourism sector which has been affected due to COVID-19 due to which fiscal deficit will be high and has caused strained in the liquidity of the country. The government has taken measures to improve liquidity by lowering the cash reserve ratio, increasing lending, and other financial reliefs and measures. The government has recognized the issues, given measures, and is trying to mitigate the impact in the best possible way including moving away from 70:30 to 100% ownership provided to the foreign investors. His Excellency said that despite all these challenges, there are some opportunities that we can see post-COVID-19 which is to strengthen the economic partnership between India and Oman. We can expand our trade activities in terms of medical, healthcare, food security, IT, Oil, Gas, and many more which will give a boost to the economy and business of India and Oman. The other esteemed delegates who deliberated in the session were H.E Mr. Redha Al Saleh, Vice- Chair, Oman Chamber of Commerce; Ms. Haura Al-Wahaibi, Director of Investment, Public Authority for Investment Promotion and Export Development; Mr. Bader Al Naabi, GM and Business Development Director, ASYAD, Oman. Mr. Pradeep Multani, Vice President, PHD Chamber of Commerce and Industry, in his welcome address apprised the warm and coordinate relationship of India and Oman which is rooted in culture, history, and geography which has led to a trade, business, and economic partnership. He also deliberated about the trade ties between the countries in fields of agriculture, fertilizers, healthcare, infrastructure, tourism, mining, and others. He also talked about the Indian industries and enterprises in Oman, investment programs, and the growth opportunities of trade and investment activities between the countries in the future. Mr. Saurabh Sanyal, Secretary-General, PHD Chamber while delivering the formal Vote of thanks to all the esteemed delegates and participants. The session was supported by Pacific Travels and S K Kalra and Associates and moderated by Mr. Naveen Seth, Principal Director, PHD Chamber. The Session also included industry insights by Mr. Nasir Zaidi, Chair, International Affairs Committee for Gulf, PHD Chamber; Mr. Vivek Agarwala, Chair, International Affairs Committee for Africa; Mr. Vikram Gera, Co‐Chair, International Affairs Committee for Europe & CIS, PHD Chamber; Mr. Surinder Kalra, Co-Chair, International Affairs Committee for Gulf, PHD Chamber; Mr. Sushil Gupta, Chair & Managing Director, Atlas Group and other seniors PHD Chamber members along with diplomats around the country and over 100 Industry Stalwarts all around the world. Ends. Media Division PHD Chamber of Commerce and Industry
PHD Chamber of Commerce and Industry, established in 1905, is a proactive National Apex Chamber working at the grass-root level and with strong national and international linkages.