India Considering Preferential Trade Agreement With Oman: Goyal

India is considering entering into a preferential trade agreement (PTA) with Oman, said the union minister Piyush Goyal on Thursday during the 10th meeting of the India-Oman joint business council (JBC) in Delhi. 

He also added that India is looking at a comprehensive trade agreement with Gulf cooperation council nations, of which Oman is an important member. 

The minister said that the joint commission meeting (JCM) that took place on Wednesday between India and Oman was a very productive one. 

He expressed confidence that the discussions with business leaders on both sides would complement the discussions under JCM, come up with new ideas to boost our already deep bonds of friendship, and turn our vision into reality.

All the engagement that happened in the JCM and warm people to people ties between the two nations should and must lead to a significant increase in business to business engagement. 

He underscored that agreements would only reach their true potential if businesses display that enthusiasm which will, in turn, help political leaders take bold decisions. 

He urged businesses in both nations to look at new opportunities, especially in services, investment, food security, sustainability, renewable energy and startups.