Piyush Goyal invites Oman Govt. to increase pharma trade with India

India has been considering entering into a Preferential Trade Agreement (PTA) with Oman, said Piyush Goyal, The Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles at the 10th Meeting of India-Oman Joint Business Council (JBC) in New Delhi recently. The minister added that India had been looking at a comprehensive trade agreement with Gulf Cooperation Council (GCC) nations, of which Oman is an important member. Talking about recently held Joint Commission Meeting (JCM) the minister stated that despite close relations, the bilateral trade and investment in the two nations were yet to reach maximum potential. The minister also invited Government of Oman to increase their pharma trade with India. “Our pharma companies will bring quality products at competitive prices to consumers in Oman and help bring down the cost of healthcare,” said the minister and thanked Oman for agreeing to fast-track approvals for the Indian medicines that had already been cleared by strong regulatory environments like UK, EU, and USA.