Food security is going to become a major global challenge in the coming years: PM Narendra Modi in Oman

PM Modi urged business communities of the two sides to take their partnership to the next level through collaborations in key areas.

Food security is going to become a major global challenge in the coming years, Prime Minister Narendra Modi said at the India-Oman Business Summit on Thursday and urged business communities of the two sides to take their partnership to the next level through collaborations in key areas.

The PM emphasised his idea to boost innovation through joint efforts. (DPR PMO)

While urging them to launch five major joint green energy projects in the next five years, he said in Hindi: “Food security is as important as energy security. This is going to become a major global challenge in the future. Can we, together, create an India-Oman Agri Innovation Hub? This will strengthen Oman’s food security and help India’s agri-tech to reach the global market.” Oman is actively pursuing policies to ensure sustainable food security as part of its ‘Vision 2040’ with significant success.

The PM emphasised his idea to boost innovation through joint efforts. “Agriculture is just one sector. Similarly, it is important to promote innovation in every sector,” he said. “Can we establish an ‘Oman-India Innovation Bridge? We must resolve to connect 200 Indian and Omani startups over the next two years,” he added.

Modi was addressing the forum in the context of having successful partnership between the two countries in the past through the Joint Investment Fund. He said the fund is actively pursuing investments in both the countries and there are immense possibilities in sectors like energy, fertiliser, petrochemicals and oil and gas.

“But friends, India and Oman are not satisfied with just this. We do not live in our comfort zone. We need to take the India-Oman partnership to the next level. To do this, the business worlds of both countries must set some big goals for themselves,” he said.

Saying that he would make this task a bit easier for them, he urged them to take resolve and do something big in the area of green energy. “Can we launch five major green projects in the next five years?” he said. He asked them to set new benchmarks in green hydrogen, green ammonia, solar parks, energy storage, and smart grids.

The India-Oman Business Forum in Muscat was attended by Omani trade minister Qais Al Youssef, Oman Chamber of Commerce and Industry chairman Sheikh Faisal Al Rawas, Union commerce and industry minister Piyush Goyal, and CII president Rajiv Memani, among others. The forum saw participation by leading business representatives from both countries in the fields of energy, agriculture, logistics, infrastructure, manufacturing, health, financial services, green development, education, and connectivity, the Prime Minister’s Office said in a statement.

Addressing the gathering, the PM highlighted the centuries-old maritime trading ties between the two countries, from Mandvi to Muscat, which today forms the bedrock of vibrant commercial exchanges. He noted that 70 years of diplomatic relations represent the trust and friendship built over centuries.

Modi called upon the business leaders to realise the full potential of India-Oman Comprehensive Economic Partnership (CEPA), which he described as the blueprint for India-Oman shared future. He underscored that CEPA would infuse new energy in bilateral trade and investment ties and create opportunities for mutual growth, innovation and employment.

Highlighting India’s economic success in the last 11 years, Modi said that the country was well on its way to become the third largest economy in the world on the back of next generation reforms, policy predictability, good governance and high investor confidence.

The PM further added that India’s high growth — over 8% in the last quarter — in an environment of global uncertainty spoke of its resilient nature and inherent strengths. He underlined that India was working at speed and scale to create world class infrastructure, logistics, connectivity, trusted supply chains, manufacturing capacities and green growth to boost “ease of living” and “ease of doing business”.