JSPL, Amul Among Likely Initial Investors in Oman Following Trade Boost
JSPL and Amul likely first Indian investors in Oman; trade deal boosts business, jobs, and marble exports for India.
Amul and JSPL poised to invest in Oman, strengthening India-Gulf trade and employment opportunities.
Naveen Jindal’s JSPL and Amul are expected to be among the first Indian companies investing in Oman, leveraging strengthened bilateral ties and expanded employment opportunities for Indians in the Gulf nation.
Commerce & Industry Minister Piyush Goyal confirmed the developments while speaking to reporters. “Already, we have received interest from an Omani dairy to form a joint venture with Amul,” he said. He further stated that Omani companies and a sovereign wealth fund would be invited to India for investment.
Goyal highlighted employment opportunities for Indian workers in Oman, noting that certain ventures will operate through co-location models. “They have assured us that wherever Indians are investing in Oman, companies can have 100% Indian employees, except for a small portion of Omanese staff. This means our investments will directly create jobs for our people,” he said.
The minister further stated that the new India-Oman trade agreement is expected to be operational within the next three months. In a significant development, Oman has lifted the ban on exporting marble slabs for the first time, enabling processing in India. The anticipated outcome of this shift is the creation of local job opportunities as well as a decrease in the volume of imports from Türkiye that India relies on.
Among the benefits that will be brought about by this move are the developments in economic ties between India and Oman, which are intended to create more favorable conditions for trade, investment, and employment of the Indian business and labor sector.
