Historic maritime ties strengthen during strategic Muscat trade visit.
India has undergone a fundamental transformation in its economic identity over the last decade, moving beyond simple policy tweaks to a complete overhaul of its "economic DNA." This was the core message delivered by Prime Minister Narendra Modi while addressing the prestigious India-Oman Business Forum in Muscat on Thursday.
Arriving in Oman for the final leg of his three-nation tour, Prime Minister Modi engaged with business leaders to highlight the strides India has made in becoming one of the world's most competitive markets. He emphasized that the last 11 years have been defined by rigorous structural reforms rather than superficial changes.
Transformative Economic Reforms
During his address, PM Modi pointed to specific landmark initiatives that have reshaped the business landscape. He cited the Goods and Services Tax (GST) as a revolutionary step that integrated the entire nation into a single, unified market. Furthermore, he credited the Insolvency and Bankruptcy Code for instilling much-needed financial discipline and transparency, which has significantly bolstered investor confidence globally.
CEPA: A Blueprint for the Future
A major highlight of the forum was the focus on the Comprehensive Economic Partnership Agreement (CEPA). Describing it as a "blueprint for the future," the Prime Minister expressed optimism that this agreement would inject new energy and confidence into the partnership between the two nations. He noted that CEPA is set to accelerate trade velocity and unlock fresh investment opportunities across various sectors in the 21st century.
Deep-Rooted Maritime Ties
Touching upon the emotional and historical bonds shared by the two nations, PM Modi drew a parallel between the changing tides and the steadfast nature of their friendship. "While the waves of the ocean change and seasons change, the friendship between India and Oman grows stronger," he remarked.
He reminded the delegation that the Arabian Sea serves not just as a geographical body but as a connecting bridge between Mandavi and Muscat, facilitating a legacy of maritime trade that dates back to the beginning of civilization.
70 Years of Diplomacy
The visit also marks a significant milestone—70 years of diplomatic ties between New Delhi and Muscat. The Prime Minister termed this anniversary as a "stepping stone" to take their ancient legacy forward.
PM Modi arrived in Oman on Wednesday following successful diplomatic engagements in Jordan and Ethiopia. His visit, at the invitation of Sultan Haitham bin Tarik, aims to further cement the strategic partnership between the two coastal nations.
