PM Modi: starts a three-nation tour to strengthen trade and investment relations
PM Modi: One of the main goals of Prime Minister Narendra Modi’s three-nation trip to Jordan, Ethiopia, and Oman, which he started on Monday, is to strengthen trade and commercial connections.
It is anticipated that PM Modi’s visit would provide extensive chances to expand the nation’s economic influence across Africa and West Asia.
The proposed Free economic Agreement (FTA) between India and Oman, which aims to strengthen economic and investment ties between the two nations, was approved last week by the Union Cabinet, which is led by the prime minister.
Additionally, the ratification followed the Shura Council of Oman’s support of the Gulf country’s planned free trade agreement with India. In November 2023, negotiations on the trade deal—officially known as the Comprehensive Economic Partnership Agreement (CEPA)—started.
A long-standing, multifaceted strategic partnership between India and Oman is bolstered by robust commerce, energy cooperation, and cultural relations. The business and economic ties between Oman and India are strong and thriving.
According to an official release, bilateral commerce between the two countries was $8.947 billion in FY 2023–2024 and $10.613 billion in FY 2024–2025. Strong bilateral investment flows have also been seen in the large number of joint ventures that have been formed in Oman and India.
Additionally, Oman is home to more than 6,000 India-Oman joint companies, which are expected to provide $7.5 billion in long-term capital investment to the Omani economy.
In Muscat, PM Modi will meet with the Sultan of Oman at a high level to discuss enhancing the Strategic Partnership and the two countries’ robust trade and economic ties.
Notably, with over $2.8 billion in bilateral commerce, India ranks as Jordan’s third-largest partner. Jordan is a major provider of fertilizers, especially potash and phosphates, to India.
India was Ethiopia’s second-largest commercial partner, despite the fact that bilateral trade between the two countries was just around $550 million in FY25. Primary and semi-finished iron and steel products, medications and medicines, fertilizers, and equipment are among India’s main exports.