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India and Oman Bilateral Trade registered a 129 Percent Growth

Jun 30, 2013 10:48 IST

During the five-year period from 2008-09 to 2012-13, India-Oman bilateral trade increased by 129 percent as per the data released by Ministry of External affairs of India. India has been a major exporter to Oman and 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 increase in export of mineral fuels, mineral oils and products of their distillation.

Besides traditional items from India like tea, coffee, spices, rice and meat products and seafood are among other commodities in great demand in Oman. India imports urea, Liquefied Natural Gas through spot purchase, polypropylene, lubricating oil, dates and chromites ore from Oman.

In terms of FDI inflows from the GCC Countries, Oman is the second biggest investor in India having put in investments worth 340 million US dollars in the country.

More than 7.18 lakh expatriate Indians are living in Oman in various sectors contributing a lot towards strong India-Oman ties.

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Read more Current Affairs on: India and Oman , Bilateral trade , Middle east

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