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FINANCIAL NEWS
Oman cuts imports from India to USD2.379b in 2015
09 Jul 2015
(MENAFN) The Sultanate of Oman has managed to cut its import bill from India by 15 percent to USD2.379 billion in fiscal 2014-15, compared to USD2.8 billion last year, Oman Daily Observer reported.
Likewise, the Indian government did the same with cutting imports from Oman by 40 percent; hence, the bilateral trade co-op between the two countries has taken a serous hit.
Major items of Omani imports from India are mineral fuels, mineral oils and products of their distillation, textiles and garments, machinery and equipment, electrical and electronic items, and many more.
As for exports, India relies over the Sultanate for urea, LNG, crude oil (through spot purchase), polypropylene, lubricating oil, dates and chromite ore.
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