Now fly to India at OMR 19.9, Bangladesh at OMR 39.9
In a social media post, Salam Air announced Mumbai fares from OMR 19.9, Delhi, Hyderabad, Bangalore and Chennai from OMR 21.9 and Lucknow from OMR 29.9 from Muscat International Airport.
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Times of Oman
5 hours ago
- Times of Oman
India extends Rs4,850 crore line of credit to Maldives
Male: India has signed a Memorandum of Understanding (MoU) to extend a Rs4,850 crore line of credit to the Maldives, continuing its long-standing tradition of supporting the developmental needs of the South Asian nation, the Ministry of External Affairs (MEA) said on Friday. The announcement came after a bilateral meeting between Prime Minister Narendra Modi and Maldivian President Mohamed Muizzu during PM Modi's two-day visit to the Maldives as the Guest of Honour for the country's 60th Independence Day celebrations. Foreign Secretary Vikram Misri, addressing a press briefing, said that this will be the first line of credit extended to the Maldives denominated in Indian rupees, replacing the earlier dollar-denominated credit. "We have signed an MoU related to the extension of a fresh line of credit, of Rs 4850 crore to the Maldives. This is the first Line of Credit (LoC) extended to the Maldives that is denominated in Indian rupees. The Line of Credit (LoC) represents a continuation of the tradition of assistance to the development needs of the Maldives, and we expect that several infrastructure projects will be carried out as a result of this Line of Credit (LoC) agreement, benefiting the lives of citizens here in the Maldives," Misri said. He added that the two sides also signed a mandatory agreement to amend the existing dollar line of credit between India and the Maldives. "With the signature of this mandatory agreement, the annual debt repayment obligations of the Maldives will reduce by a sharp 40 per cent from nearly 51 million dollars annually to 29 million dollars," Misri said. On trade cooperation, the Foreign Secretary expressed optimism over the early conclusion of the proposed India-Maldives Free Trade Agreement (IMFTA). "I cannot point to an exact timeline... This is an FTA that we should be able to conclude rather quickly," he said. India and the Maldives also signed agreements to enhance cooperation in multiple sectors, including fisheries and aquaculture, as well as to promote digitalisation. An MoU was signed between the Indian Institute of Tropical Meteorology (IITM), Ministry of Earth Sciences, and the Maldives Meteorological Services (MMS), Ministry of Tourism and Environment. The Maldives has also agreed to recognise the Indian Pharmacopoeia (IP) -- India's official book of drug standards.
Times of Oman
5 hours ago
- Times of Oman
Second round of India-New Zealand FTA negotiation concludes in Delhi
New Delhi: The second round of negotiations for the India-New Zealand Free Trade Agreement (FTA) concluded successfully on Friday in New Delhi, further advancing the shared objective of strengthening bilateral trade and economic partnerships, according to a release from the Ministry of Commerce and Industry. This development catalyses the shared commitment to deepen economic ties and guidance given by Prime Minister Narendra Modi during the visit of his New Zealand counterpart, Christopher Luxon, in March this year. The FTA was launched during the meeting between Union Minister of Commerce and Industry, Piyush Goyal and Todd McClay, Minister for Trade and Investment, Government of New Zealand, on March 16 of this year, the release added. Continuing the momentum generated during the first round held in May in New Delhi, the second round of negotiations was held from July 14 to 25. This round accomplished significant advancement in multiple areas, including trade in Goods and Services, Investment, Rules of Origin, Customs Procedures and Trade Facilitation, Technical Barriers to Trade, Sanitary and Phytosanitary Measures, and Economic Cooperation. Discussions were marked by mutual interest in achieving early convergence on several texts. Both sides reaffirmed their commitment to concluding a balanced, comprehensive, and forward-looking agreement, as per the Ministry. According to the release, the Third Round of negotiations is scheduled to be held in New Zealand in September 2025. The intersessional virtual meetings will maintain the forward trajectory set in the second round. The release noted that India's bilateral merchandise trade with New Zealand reached USD 1.3 billion in FY 2024-25, recording a growth of 48.6 per cent over the previous financial year, signaling the growing potential of the economic partnership. The FTA is expected to enhance trade flows, support investment linkages, promote supply chain resilience, and establish a predictable and enabling environment for businesses in both countries, it added.
Times of Oman
12 hours ago
- Times of Oman
"Pleased to announce initiation of negotiations for India-Maldives FTA," Muizzu says
Male: India and Maldives on Friday announced the initiation of negotiations for the launch of a Free Trade Agreement (IMFTA). Maldivian President Mohamed Muizzu, on Friday, announced the beginning of negotiations for a Free Trade Agreement between the two countries during a joint press conference in Male with Prime Minister Narendra Modi. Muizzu said, "I am also pleased to announce the initiation of negotiations for a free trade agreement between India and the Maldives. This landmark initiative marks a significant step forward in strengthening our economic partnership." Prime Minister Narendra Modi today held wide-ranging talks with Maldivian President Mohamed Muizzu, focusing on consolidating cooperation in areas of trade, defence and infrastructure. The two leaders held a one-on-one meeting as well as delegation-level talks. Both countries exchanged MoUs in the presence of Prime Minister Modi and Maldives President Muizzu. Muizzu said, "The Prime Minister's visit coincides with two cherished occasions. Tomorrow, PM Modi will join me in the 60th Independence Day celebrations of the Maldives. Today, we have jointly released a commemorative stamp to mark the 60th anniversary of the establishment of formal diplomatic relations between the Maldives and India. This afternoon, Prime Minister Modi and I had extensive discussions." Muizzu said that the resources from MoUs will be used for utilization of Maldives government across key sectors. "Prime Minister Modi and I had the honour of witnessing the signing of four MoUs and three agreements on several key areas. Among these is a line of credit agreement for USD565 million. This will be utilised for priority projects of my government across key sectors," he said. The outcomes included the initiation of the India-Maldives Free Trade Agreement (IMFTA) negotiations. India extended the Line of Credit (LoC) of Rs 4,850 crores to Maldives. India reduced annual debt repayment obligations of Maldives on Gol-funded LoCs. There was joint issuance of commemorative stamp on 60th anniversary of establishment of India-Maldives diplomatic relations. Handing over of 3,300 social housing units in Hulhumale under India's Buyers' Credit facilities took place. Inauguration of Roads and Drainage system project in Addu city, inauguration of 6 High Impact Community Development Projects in Maldives took place.
