'India could become top exporter to Oman in 5 years'.

DUBAI: India could become the top exporting nation to Oman in the next five years, buoyed by the growing trade and economic ties between the two countries, a top Indian diplomat has said.

Currently India is the third largest exporter of products and services to Oman, India's Ambassador to Oman J S Mukul said, adding it is likely to occupy the number one slot within the next five years.

"..This is taking into account the increasing trade and economic relations and many joint ventures in force between the two countries..," Mukul was quoted by the local media as saying.

The ambassador said bilateral trade between India and Oman touched USD 5.2 billion in 2010-11 with over 1,527 Omani-India joint ventures across 13 socio-economic sectors.

He added that more than 130 large Indian companies were present in Oman and at least 30 Omani companies were active in the Indian market.

Inaugurating the fifth 'Indexpo Muscat 2012', Mukul said the expo is expected to promote Indo-Oman business growth and open up new avenues between the two countries.

The ambassador said India and Oman have come a long way since the first Indexpo that was held in November, 1993.

The three-day fair that began on September 4, is focused on industrial and general products and is being held for the fifth time in Oman.

"The objective of this prestigious exhibition is to provide an ideal interactive platform for businessmen and entrepreneurs from Oman who look for fresh openings to do business with India and vice versa," Mukul added.

The Indexpo Muscat 2012 is being jointly organised by the Embassy of India, Muscat, Oman Chamber of Commerce and Industry (OCCI), All India Association of Industries (AIAI), Associated Chambers of Commerce and Industry of India ( ASSOCHAM) with the active support of Indian Ministry of Commerce & Industry.

Source : economictimes.indiatimes.com