Bharat and Oman are talking about using the UPI (Unified Payments Interface) stack for digital payments. They’re also exploring the possibility of trading in Rupees. However, this Rupee trade idea is still in the early stages of discussion.
The two countries are working on a Comprehensive Economic Partnership Agreement. The negotiations have recently started and have made good progress. Both leaders are eager to finalize this agreement as soon as possible.
The Sultan of Oman, Haitham bin Tarik, is visiting Bharat. This is the first visit by a Sultan of Oman to Bharat in the last 26 years. The visit is important because it follows recent exchanges between the two nations, including Prime Minister Modi’s visit to Oman in 2018.
Bharat and Oman have a strong strategic partnership covering political, security, defense, trade, economic, cultural, and people-to-people relations. They are key partners in maritime security in the Western Indian Ocean.
Oman is home to a large Indian diaspora, around seven million people, who have contributed significantly to Oman’s economy. The Indian diaspora plays a special role in the strong bond between the two nations.
Prime Minister Modi had talks with the Sultan of Oman, discussing various aspects of the bilateral relationship. They adopted a new joint vision for future collaboration in ten different areas.
The Sultan of Oman received a ceremonial welcome at Rashtrapati Bhavan in New Delhi. The visit is considered significant due to the historical ties and recent developments between the two countries.
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