India Inc's $1.5-bn Oman investment proposals likely to take off in 2018.

At a time when India Inc is trying to capture markets in Africa and West Asia, Oman, which has an oil-dependent economy, is trying to position itself as the gateway.

Speaking to Business Standard at the sidelines of an industry meet organised by SICCI, Public Establishment for Industrial Estates (PEIE) Chief Executive Officer Hilal Hamad Al-Ahasani said investments worth around $1.5 billion from India are in the pipleline and are expected to take off in 2018. PEIE is responsible for clearing investment proposals.

Trade between the two nations crossed the $4-billion mark between April 2016 and March 2017. Additionally, a sum of $7.5 billion has been invested in more than 2,900 Indo-Omani business establishments.

A K Tareen, who is the investment promotion representative of PEIE, said that the next wave of growth is going to come from Africa, with India and China being the key suppliers.

BS