Economy

Indian exporters to scout for more orders from Oman in B2B virtual meet

Amiti Sen New Delhi | Updated on August 17, 2020 Published on August 17, 2020

India is already the third largest exporter to Oman after UAE and China   -  Getty Images/iStockphoto

Medical & surgical equipment, ceramics, construction & building material, agriculture, electrical machinery are the focus sectors

Indian exporters hope to expand their reach in the Omani market by attracting higher orders for a variety of products ranging from fruits and vegetables to medical equipment and construction machinery.

Over 100 buyers from Oman are expected to attend the virtual B2B (business-to-business) meeting on Tuesday organised by the Embassy of India in Oman in association with exporters’ body Federation of Indian Export Organisations.

“India is already the third largest exporter to Oman after UAE and China. However, there is a lot of potential to expand exports as Indian exports to Oman, at $2.2 billion in 2018-19, accounted for less than 5 per cent of the country’s purchases,” according to an official associated with the meeting.

This meet is part of the Ministry of External Affairs efforts to help exporters expand their markets to deal with the Covid-19 setback, the official said.

“Indian Missions across the world have been roped in by the MEA to play an important role in presenting India as an alternative and low-cost manufacturing industry. They have been provided with resources in the form of market expansion activities budget and trade promotion budget to carry out the work,” the official said.

The FIEO earlier had a video conference meeting with the Indian Embassy in Oman and various business associations from both countries to identify the focus sectors for the meet.

“The items that have been identified for focus during the meet include medical and surgical equipment, ceramics, construction and building material, agriculture and allied products and electrical machinery and equipment, among others,” a FIEO representative said.

Covid impact

The disruptions caused by the Covid-19 pandemic and the subsequent move by countries to make changes in their value chains and sourcing had given Indian exporters the opportunity to expand their reach. “It is not possible at the moment to say if Indian exporters can attract some of the orders previously going to China, but there is certainly a lot of opportunity worth exploring. Oman has been a friendly trading partner for India and it makes sense to put in efforts to increase trade with the country,” the representative said.

India’s Ambassador to Oman Munu Mahawar, in an address in Muscat on India’s Independence Day last week, pointed out that there were many areas where India and Oman could work more closely. For instance, Oman had huge reserves of limestone and gypsum which India needed to further develop its infrastructure sector he said, adding that in the oil and gas sector, there were opportunities in both upstream and downstream areas.

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Published on August 17, 2020
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