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During 2016-17, Indian business delegations coordinated by Chambers including FICCI, FIEO, ESC, TPCI, ICC and PHD CCI as well as independent delegates visited Muscat to participate in various exhibitions in Oman including Big Show, Infra Oman, COMEX IT exhibition, Oman Med-health, Food & Hospitality Oman, Fire & Safety Exhibition, Medical Travel exhibition (IMTEC), Mineral & Mining Exhibition (OMMEC), Omanplast, Interior Design and Décor Furnishing Exhibition, etc.
Similarly, Omani business delegations also visit India to participate in exhibitions related to sectors like Health, Ceramics, IT and Electronics, etc.
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For Oman, India has allotted 100 slots during April 2017-March 2018 for various training courses in India under ITEC Programme.
India is also ready to share its experience with Oman in skill development of youth and development of small and medium enterprises.
Investment flows, both ways, have also been robust, as reflected in numerous joint ventures (JVs), established both in India and Oman with estimated total investment of around US$ 7.5 billion. In Duqm Special Economic Zone also, there is a significant Indian presence, including Sebacic Oman a US$ 1.2 billion project for the largest Sebacic acid plant in Middle-East.
Indian companies have invested in Oman in sectors like iron and steel, cement, fertilizers, textile, cables, chemicals, automotive, etc. Oman India Fertilizer Company in Sur is a USD 969 million India-Oman joint venture in Oman between IFFCO and KRIBHCO of India and Oman Oil Company (OOC) for manufacturing of fertilizers. India-Oman Joint Investment Fund (OIJIF), a JV between State Bank of India and State General Reserve Fund (SGRF) of Oman, a special purpose vehicle to invest in India, has been operational and the initial corpus of US$ 100 million has been fully utilized.
During 2016-17, Omani business delegations visited India to participate in Global Exhibition on Services, Vibrant Ceramics Expo and India Soft IT Exhibition as well as to promote tourism and investment into Oman.