The Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Piyush Goyal invited the Government of Oman to increase their pharma trade with India. 

He added that Oman was the 1st country in the GCC to authorize the use of India made Covaxin.

Mentioning the market study on the cooperation in the pharma sector that was unveiled at the JCM, the Minister expressed confidence that the report would be invaluable to Indian companies wishing to enter the Omani market. 

Our pharma companies will bring quality products at competitive prices to consumers in Oman and help bring down the cost of healthcare, assured Goyal. 

He also thanked Oman for agreeing to fast-track approval for Indian medicines that had already been cleared by strong regulatory environments like the UK, EU, AND USA.

Delivering the keynote address at the 10th Meeting of India-Oman Joint Business Council (JBC) in New Delhi, Piyush Goyal said, "India was already looking at a comprehensive trade agreement with Gulf Cooperation Council (GCC) nations, of which Oman is an important member." 

He expressed confidence that the discussions with business leaders on both sides would complement the discussions under JCM, come up with new ideas to boost our already deep bonds of friendship, and turn our vision into reality.

Paying his respects to Late H. M. Sultan Qaboos, Piyush Goyal said that he was held in very high esteem in India and was conferred the Gandhi Peace Prize. He was one of the architects of close India-Oman bilateral relations, the Minister added. We owe it to him to strive to transform his vision into reality and take the partnership between India and Oman to the heights it truly deserves, the Minister noted. 

He urged businesses in both nations to look at new opportunities, especially in services, investment, food security, sustainability, renewable energy and startups.

Qais bin Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion of the Sultanate of Oman said, "The two nations had a successful Joint Commission Meeting and added that India and Oman had great trust and confidence in each other." 

He also invited Indian companies to invest and do business in Oman.