Mumbai, Sep 4 — India’s economy expanded at a robust 7.8 per cent in the first quarter of FY27 (April-June), driven by strong performance across sectors, World Trade Center (WTC) Chairman and All India Association of Industries (AIAI) President Vijay Kalantri said on Friday.
Speaking to IANS after a meeting with an Omani delegation on investment and trade at the MVIRDC World Trade Center here, Kalantri said the growth figure had exceeded earlier projections.
“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 noted that the growth was achieved despite rising freight costs caused by 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.
On India-Oman trade relations, Kalantri said the two countries and India and the Gulf region more broadly, have traditionally shared strong and vibrant commercial ties.
“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.
He further stated that Oman’s world-class ports, airports and logistics infrastructure make it an attractive gateway for Indian companies seeking access to regional and global 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,” Kalantri said.
Khalid Sulaiman Al-Saleh, official spokesperson of Madayn and Director General for Marketing and Commercial Affairs, said Oman’s strategic geographical location and strong industrial ecosystem offer growing opportunities in sectors such as aluminium, 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-Salehi said.