India and Oman Forge Closer Economic and Strategic Ties

India and Oman Forge Closer Economic and Strategic Ties

VoM News Desk | December 16, 2023 | 11:30 PM IST | India, Oman | Follow on Google News

India and Oman Forge Closer Economic and Strategic Ties Image/PTI

India and Oman Forge Closer Economic and Strategic Ties

Foreign Secretary Vinay Kwatra highlighted the progressive talks between India and Oman during the special briefing on the Sultan of Oman’s state visit to India.

He emphasized the exploratory stages of discussions on the possibility of Rupee trade and the utilization of India’s Unified Payments Interface (UPI) stack in Oman, aiming for enhanced digital payment cooperation between the two nations.

Kwatra underscored the significance of the ongoing discussions for the Comprehensive Economic Partnership Agreement (CEPA), emphasizing substantial progress despite its recent commencement.

Both Prime Minister Narendra Modi and Sultan Haitham bin Tarik expressed a strong inclination to expedite the finalization of the CEPA for mutual benefits.

The Sultan’s visit holds historic significance as it marks the first state visit from Oman to India in 26 years, underscoring the deepening ties between the two countries.

Kwatra highlighted the bilateral exchanges over the years, including PM Modi’s visit to Oman in 2018 and Oman’s successful participation as a special guest country in India’s G20 presidency.

India and Oman share a strategic partnership founded on extensive cultural ties and have expanded collaboration across various domains encompassing political, security, defence, trade, economic, cultural, and people-to-people relations. Notably, both nations actively contribute to maritime security in the Western Indian Ocean, signifying the depth of their partnership.

Kwatra acknowledged the influential Indian diaspora in Oman, comprising around seven million individuals, whose contributions have significantly contributed to Oman’s economic growth and development.

The Sultan’s visit included a ceremonial reception at Rashtrapati Bhavan and delegation-level talks with Prime Minister Modi, where they adopted an ‘India-Oman joint vision, a partnership for the future,’ encompassing cooperation in ten diverse areas.

This visit solidifies the close and evolving relationship between India and Oman, reflecting their commitment to strengthening economic ties, fostering cultural exchanges, and bolstering strategic collaboration across various fronts.

India and Oman Forge Closer Economic and Strategic Ties: In case of rectification of any error in this Article, Visit on Correction Policy or Register your Query

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.