Muscat [Oman]: At the India-Oman Business Summit, Prime Minister Narendra Modi highlighted that the India-Oman joint investment fund has attracted investments in both the countries in multiple sectors including energy, oil and gas, fertilizers, health, petrochemicals, and green energy.
"We have to take the India-Oman partnership to next level for which business world from both the sides need to set some targets.
PM Modi suggested some areas where businesses from both the sides can collaborate, including green energy. "Let's aim to start 5 new projects in this sector in next 5 years." Talking about the potential areas for these projects, he said, "We need to set up new benchmarks in the field of Green Hydrogen, Green Ammonia, Solar Parks, Energy Storage, and Smart Grids." PM Modi also suggested the formation of India-Oman Innovation Bridge that will aim to connect at least 200 startups in the next 2 years.
Highlighting the significance of food security in line with the energy security, he suggested formation of India-Oman Agri Innovation Hub, which he said will help to provide a global platform for India's agri tech.
PM Modi's Statement
Speaking about the Summit, PM Modi said, "The Summit today India-Oman partnership will give a new direction, new speed, and help it reach new heights. In this, all of you play a big role." "Our relation is built on the foundation of trust, moved ahead on the strength of friendship and with time it further deepened. Today, our diplomatic relations have been in place for 70 years. This is not just a celebration of 70 years; this is a milestone where we have to centuries of our heritage towards a prosperous future," he said.
The India-Oman Business Summit in Muscat aims to infuse new energy into business ties and unlock growth opportunities.
On the Comprehensive Economic Partnership Agreement (CEPA), Pm Modi said, "We are making a historic decision whose echo will be heard for decades to come. The CEPA will fill us with new trust and new energy in the 21st century. This is a blueprint of our shared future. This will boost our trade, give a new confidence to investment and open new doors to opportunities in every sector..."
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