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Indian textile sector eyes investments from Oman

The second largest employer in that country, Omani companies have been encouraged to invest in India’s textile sector. Around 35 million people would be employed directly due to this.

At an exhibition entitled ‘Vastram—Splendid World of Indian Textiles’ which featured more than 30 traditional Indian textiles, Indra Mani Pandey, India’s ambassador to the Sultanate, said that textiles were an important part of India’s exports to the Sultanate and India whole-heartedly welcomes Omani investments in this industry.

There was Oman-India Investment Meet held recently and in the next two months, another investors’ meet was to be organised, Pandey said. He added that they were looking forward to Omani companies investing in India. There are 1,500 joint ventures between the two countries and there must be many textile-oriented ones among them. Besides, there is one, which is being created in Salalah, the ambassador stated.

Former assistant to Sultan Qaboos bin Said’s adviser at the Ministry of Information, Mohamed Al Riyami also encouraged this investment and felt that Omani investors should go to India and invest, but get the items in Oman and put them for sale there.

Pandey, while highlighting the diversity of Indian textiles in terms of production, material and the processes involved said that the purpose of the exhibition was to showcase this diversity to the people of Oman and the Indian community.

 
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