Prime Minister Shri Narendra Modi addressed the India–Oman Business Forum in Muscat on December 18 and underscored the deep-rooted commercial and diplomatic ties between the two nations.
The event brought together senior leaders, including H.E. Qais Al Youssef, Oman’s Minister of Commerce, Industry and Investment Promotion; H.E. Sheikh Faisal Al Rawas, Chairman of the Oman Chamber of Commerce and Industry; India’s Commerce and Industry Minister Shri Piyush Goyal; and Shri Rajiv Memani, President of CII. Moreover, leading business representatives from both countries participated, covering sectors such as energy, agriculture, logistics, infrastructure, manufacturing, health, financial services, green development, education, and connectivity.
Prime Minister Modi highlighted centuries-old maritime trading links from Mandvi to Muscat and noted that 70 years of diplomatic relations reflect trust and friendship built over generations. He urged business leaders to harness the full potential of the India–Oman Comprehensive Economic Partnership Agreement (CEPA), describing it as the blueprint for a shared future. Furthermore, he emphasised that CEPA would energise bilateral trade and investment, creating opportunities for growth, innovation, and employment.
Showcasing India’s economic progress, Prime Minister Modi stated that the country is on track to become the world’s third-largest economy, driven by reforms, policy predictability, good governance, and investor confidence. He pointed out that India’s recent growth rate of over 8% demonstrates resilience amid global uncertainty. In addition, he stressed India’s focus on building world-class infrastructure, logistics, connectivity, supply chains, manufacturing, and green growth to enhance both ease of living and ease of doing business.
The Prime Minister invited Omani businesses to expand beyond traditional sectors like energy, petrochemicals, and fertilisers, and explore opportunities in green energy, solar parks, energy storage, smart grids, agri-tech, fintech, AI, and cybersecurity. He proposed the creation of an India–Oman Agri Innovation Hub and an India–Oman Innovation Bridge to make the partnership future-ready.
Concluding his address, Prime Minister Modi appreciated the strong presence of business leaders and urged them to combine enterprise with policy to give wings to CEPA. Consequently, he reaffirmed that India and Oman are not just neighbours but strategic partners committed to stability, growth, and shared prosperity.
