Oman-India trade ties on upswing

 

Feb 17

Trade ties between India and Oman are on an upswing. Bilateral trade has gone up by 125 percent over the past five years. The volume of total trade between the two countries was around 5.7 billion dollars in 2013-14. India has been a major exporter to Oman and has emerged as the fourth largest source of imports into Oman after Japan, USA and Saudi Arabia in 2012. The balance of trade is in India’s favour due to the increase in export of mineral fuels, mineral oils and products of their distillation.

Major items of Indian exports are mineral fuels, mineral oils and products of their distillation, textiles and garments, machinery and equipment, electrical and electronic items, chemicals, iron and steel products. Besides, traditional items from India like tea, coffee, spices, rice and meat products and seafood are among other commodities in great demand in Oman. Trade and commerce linkages between the two countries have got a boost through several joint ventures and a large expatriate Indian community in Oman.

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