Oman has been steadfast friend to India, even during the times when Arab world exhibited ambivalence. During cold war era, Oman stood as on island of maintain foreign policy based on moderation and mediation.
Oman is home to approximately 7 lakhs Indians. Some Indian families are residing in Oman for over 150 to 200 years.
Strategic pillars of India Oman partnership:
Oman holds a crucial position in India’s West Asia policy with a strategic partnership dating back to year 2000.
- Defence and security collaboration forms a cornerstone of partnership. A MoU signed in 2005 proved the way for joint exercises between all three wings of India’s defence forces and marked Oman as first gulf country for such engagements. The memorandum on Dugam port is a historic landmark on our security cooperation.
- Trade and commerce forms yet another important pillar of engagement. Bilateral trade during financial year 2022-2023 reached $12.33 billion. There are over 6000 Indian- Oman joint ventures in Oman. India was the second largest market for Oman’s crude oil for the year 2022.
- India and Oman launched the Rupay debit card in Oman, a key footprint of India’s initiative promoting digital plastic infrastructure in the world.
- The possibility of an agreement on joint exploration of rare earth metals, vital to modern electronic equipment could add strength.
- The proposed India middle east Europe connectivity corridor infrastructure project to link India to Europe across West Asia could also see Oman playing an important role.
challenges:
security challenges in the region have a ripple effect in India and therefore any instability in the region has a direct bearing in the safety and security of millions of Indians working there.