Mumbai — India’s economy grew 7.8% in the first quarter of fiscal 2027, supported by strong performance across multiple sectors, according to World Trade Center Chairman and All India Association of Industries President Vijay Kalantri.
Speaking after a meeting with an Omani delegation on investment and trade at the MVIRDC World Trade Center in Mumbai, Kalantri said the April-June growth rate exceeded earlier expectations.
“Earlier estimates had pegged India’s growth rate at around 6.5 per cent. However, the economy grew by 7.8 per cent in the first quarter of FY27. This strong performance was supported by robust growth across all sectors,” he said.
Kalantri said the expansion came despite higher freight costs linked to the ongoing conflict in the Middle East.
“During this period, sectors such as automobiles, auto components and textiles along with several others delivered an impressive performance,” he added.
Turning to India-Oman economic ties, Kalantri said the two countries have long maintained strong commercial relations and have significant room to expand cooperation.
“With bilateral trade currently at around $11 billion, there is significant scope to expand cooperation in pharmaceuticals, chemicals, engineering, infrastructure, shipping, maritime services and green energy. Our goal is to double bilateral trade to $25 billion,” he said.
Kalantri said Oman’s ports, airports and logistics infrastructure could make the country an important gateway for Indian businesses seeking access to regional and international markets.
“The bilateral trade agreement signed between India and Oman in 2025 provides a strategic advantage. We must now move beyond dialogue and focus on achieving tangible outcomes through trade, investment, joint ventures and stronger business partnerships,” he said.
Khalid Sulaiman Al-Saleh, official spokesperson for Madayn and Director General for Marketing and Commercial Affairs, said Oman’s location and industrial infrastructure offer opportunities in sectors including aluminum, food processing, minerals and mining, energy, renewable energy and green hydrogen.
“Under Oman Vision 2040, we are expanding opportunities in food processing, logistics, polymers, automotive, minerals, renewable energy, information technology and artificial intelligence. Foreign investors can also benefit from 100 per cent ownership in eligible activities, long-term industrial leases and other investment incentives,” Al-Saleh said. (Source: IANS)
