What Opportunities Does PM Modi's Three-Nation Visit Bring for Trade and Investment?
Synopsis
Prime Minister Modi's three-nation visit to Jordan, Ethiopia, and Oman aims to strengthen trade and investment ties, potentially unlocking vast economic opportunities. With significant agreements in place and bilateral trade on the rise, this visit could reshape India’s presence in West Asia and Africa.
Key Takeaways
PM Modi's visit aims to strengthen trade relations.
FTA with Oman approved to enhance economic ties.
Bilateral trade with Oman projected at $10.613 billion.
India is Jordan's third-largest trading partner.
India and Ethiopia's trade is growing, reaching $550 million.
New Delhi, Dec 15 (NationPress) Prime Minister Narendra Modi commenced his three-nation journey to Jordan, Ethiopia, and Oman on Monday, with a primary focus on strengthening economic and trade relations. This visit is anticipated to unlock significant opportunities for expanding India’s economic presence in West Asia and Africa.
Recently, the Union Cabinet, under the Prime Minister’s leadership, sanctioned the proposed Free Trade Agreement (FTA) between India and Oman, which aims to enhance trade and investment partnerships between the two nations.
This approval follows the endorsement from Oman’s Shura Council regarding the Gulf nation’s FTA with India. Negotiations for this trade agreement, officially known as the Comprehensive Economic Partnership Agreement (CEPA), commenced in November 2023.
India and Oman boast a long-standing, multifaceted Strategic Partnership, bolstered by strong trade relations, energy collaboration, and cultural connections. The economic and commercial ties between the two countries are thriving.
During the fiscal year 2023-2024, bilateral trade between the two nations soared to $8.947 billion, with projections for fiscal year 2024-25 reaching approximately $10.613 billion, as reported by official statements. Investment flows between the two have also been substantial, evidenced by numerous joint ventures established in both India and Oman.
Furthermore, there are over 6,000 India-Oman joint ventures operating in Oman, contributing an estimated $7.5 billion to Oman’s economy through total capital investments over time.
During his visit, PM Modi will engage in high-level discussions with the Sultan of Oman in Muscat, focusing on reinforcing the Strategic Partnership and the strong economic and commercial relations shared by the two nations.
It is noteworthy that India ranks as Jordan's third-largest trading partner, with bilateral trade approximating $2.8 billion. Jordan is a vital supplier of fertilizers to India, especially phosphates and potash.
Despite India-Ethiopia's bilateral trade being around $550 million in fiscal year 2025, India stands as the second-largest trading partner for the African country. Key exports from India include primary and semi-finished iron and steel products, pharmaceuticals, fertilizers, and machinery, among others.
Point of View
PM Modi's visit is a pivotal step in enhancing India's global economic standing. By strengthening ties with key nations in West Asia and Africa, India is positioning itself as a crucial player in the evolving global marketplace, fostering mutual growth and cooperation.
NationPress
10 May 2026
Frequently Asked Questions
What are the main goals of PM Modi's three-nation visit?
The primary goals include strengthening economic and trade ties with Jordan, Ethiopia, and Oman, and enhancing India's strategic partnerships in these regions.
What is the significance of the Free Trade Agreement with Oman?
The FTA is expected to deepen trade and investment relations between India and Oman, facilitating a more robust economic partnership.
How does India rank in trade with Jordan and Ethiopia?
India is Jordan's third-largest trading partner with bilateral trade around $2.8 billion, while it is the second-largest trading partner for Ethiopia.
What are the projected trade figures between India and Oman?
Bilateral trade between India and Oman is projected to reach approximately $10.613 billion for FY 2024-25.
What impact does PM Modi's visit have on India's economic strategy?
The visit highlights India's commitment to expanding its economic footprint in strategic regions, fostering partnerships that can lead to mutual growth.
