In a clear move India is stepping up its diplomatic efforts in further strengthening its economic and trade ties in the Arab world.
Following the visit of the external affairs minister SM Krishna to Kuwait; minister of state for external affairs Shashi Tharoor is heading to Oman on a three-day visit on Friday.
Accompanied by a high level 11-member business delegation, the focus of the visit will be on scaling up economic ties to a new level.
While the official agenda suggests that the minister will hold strategic and diplomatic consultations with Sayyid Badr bin Hamad bin Hamood Al Busaidi, secretary general in the ministry of foreign affairs and call on the foreign minister and defence minister of Oman, Tharoor is also expected to discuss the $100 million corpus and the revival of the joint India Oman Working Group. The visit also assumes importance as it is taking place ahead of the two days Indo-Arab Investment Conclave next week.
Trade and investment between India and Oman have shown a distinct upswing in the last few years. India is the fifth largest source of imports into Oman.
Oman investments in India have exceeded $200 million primarily in refineries, tourism, pharmaceutical industry and home furniture.
In 2008, major Indian companies, independently or in collaboration, bagged contracts worth $836 million.