Speech on 4th Edition Business Leadership Summit 2026

Monday ,26th October, 2026 11:30 PM, JW Marriot Hotel Muscat

H.H Al Sayyid Dr. Adham Bin Turki Al Said

H.E Dr. Ali Qassim Al Lawati, President (The Royal Academy of Management Oman)

Excellencies

Mr Mohamed Issa Al Zadjali, Chairman, Muscat Media Group

Distinguished Guest

Ladies and Gentlemen,

A very good morning to you all.

It is a pleasure to join you at the Times of Oman Business Leadership Summit & Awards 2026. I thank Muscat Media Group for bringing together leaders from government, industry, finance and entrepreneurship to exchange ideas on the challenges and opportunities shaping our economic future.

The theme, “Business Leadership in an Era of Unprecedented Change,” captures the defining reality of our times. We are witnessing significant geopolitical shifts, evolving global trade dynamics, technological disruption and a fundamental reassessment of economic dependencies and supply chains.

In today's turbulent times, the challenge before diplomacy is to manage competition without allowing it to become confrontation, and to promote cooperation even when interests diverge. The same principle applies to business leadership. The ability to navigate uncertainty, build trust and identify shared interests will increasingly distinguish successful enterprises from those that merely react to change.

Today, I would like to share some perspectives on these global transformations, India's economic journey, and the opportunities that India and Oman can unlock through our growing partnership, particularly under the Comprehensive Economic Partnership Agreement, or CEPA.

Navigating a Changing Global Order

Ladies and Gentlemen,

International economic environment is undergoing a profound transformation. Conflicts, disruptions to maritime routes, fluctuations in energy markets and restrictions affecting trade and technology have demonstrated how quickly geopolitical developments can translate into commercial risks.

The consequences extend far beyond the regions directly affected. Disruptions to shipping, energy supplies and essential commodities influence production costs, inflation, investment decisions and the livelihoods of people across the world.

For businesses, supply-chain resilience is no longer simply a question of efficiency. It is increasingly linked to economic security and national resilience. The availability of fuel, food, fertilisers and finance, alongside access to critical technologies, has become central to economic stability.

The response must be to diversify markets, strengthen productive capabilities, develop reliable supply chains and deepen partnerships with trusted economic partners.

We must also recognise that the challenges facing developing economies are particularly acute. Countries of the Global South need opportunities not only to participate in international trade, but also to industrialise, develop manufacturing capabilities and move up the value chain.

The global economy must remain open to competition, while ensuring that access to markets, finance and technology is not unnecessarily constrained.

India believes that partnerships should expand our options, not restrict them. Our approach is guided by strategic autonomy, constructive engagement and a commitment to pursuing cooperation in accordance with our national priorities.

For business leaders, the message is clear: resilience requires diversification, competitiveness requires innovation, and sustainable growth requires partnerships that can withstand uncertainty.

India's Economic Transformation: Ambition, Execution and Confidence

Distinguished participants,

India's economic journey is a story of ambition, execution and confidence. Transformations in infrastructure, digital public services, manufacturing, entrepreneurship and scientific capabilities are reshaping our economy and expanding opportunities for our people.

Our investments in transport networks, logistics infrastructure and industrial development are strengthening connectivity and productivity. Our expanding manufacturing ecosystem is creating new possibilities across engineering, pharmaceuticals, electronics, renewable energy and other sectors.

Equally transformative has been India's experience with digital public infrastructure.

Digital payments and technology-enabled public services have demonstrated how accessible digital systems can reduce barriers, improve efficiency and broaden participation in economic activity. They illustrate how technology, when designed for scale and accessibility, can democratise opportunities for citizens, entrepreneurs and businesses.

India's experience also demonstrates that technological progress need not remain confined within national borders. We stand ready to share our experiences and capabilities with our partners, including countries across Africa and the wider Global South.

At the same time, our approach to economic self-reliance is not one of isolation. National security is increasingly connected with the ability to produce essential goods, maintain technological capabilities and strengthen critical supply chains. India therefore seeks to build domestic capacity in key sectors while continuing to welcome international trade, investment and technological cooperation.

The objective is to build a stronger India that is also a more capable and dependable global partner.

Technology, Skills and the Future of Leadership

Ladies and Gentlemen,

We are entering an era in which AI, automation and digital technologies will increasingly influence how businesses operate, compete and create value.

These technologies offer tremendous possibilities for improving productivity, strengthening decision-making and addressing complex economic and social challenges. But their benefits must be widely shared, and their deployment must be guided by responsibility, trust and human welfare.

The future will depend not only on technological innovation, but also on our ability to develop the skills required to use it effectively.

India and Oman both have young populations whose potential can become a powerful driver of economic growth. Realising that potential requires investment in education, vocational training, reskilling and lifelong learning.

India's International Technical and Economic Cooperation Programme, or ITEC, is one example of our commitment to capacity building and knowledge sharing. Established in 1964, it has evolved into an important platform for training and institutional cooperation with partner countries.

For businesses, the lesson is equally relevant: investment in people is not a cost to be minimised, but a capability to be developed. Companies that combine technology with skilled human talent will be better equipped to adapt to changing markets and create opportunities for future generations.

India and Oman: A Partnership Built for the Future

Excellencies, Ladies and Gentlemen,

India and Oman share a relationship rooted in centuries of maritime trade, cultural exchange and people-to-people connections. Today, this historic friendship has evolved into a multifaceted strategic partnership encompassing trade, investment, energy, defence, technology and development cooperation.

Our economic relationship has continued to expand despite global uncertainties. Bilateral trade reached approximately US$10.61 billion in the financial year 2024–25, reflecting the strength of our commercial engagement.

Yet, these figures represent only part of the opportunity before us.

India offers a large and dynamic market, a strong manufacturing ecosystem, technological expertise and a growing base of entrepreneurs and skilled professionals. Oman, guided by Oman Vision 2040, is advancing economic diversification and strengthening its position as a regional centre for logistics, manufacturing, energy and investment.

These complementary strengths create considerable scope for deeper economic integration.

In pharmaceuticals and healthcare, Indian expertise can support Oman's ambitions to strengthen healthcare services, manufacturing and medical capabilities.

In renewable energy and green hydrogen, our businesses can explore partnerships that support energy diversification and sustainable industrial development.

In logistics and food security, closer cooperation can connect India's agricultural and manufacturing capabilities with Oman's ports, infrastructure and access to regional markets.

In digital services, education and technology, partnerships can support innovation, knowledge transfer and the development of skilled human capital.

Our objective should be to move beyond a conventional buyer–seller relationship towards a partnership in which our businesses invest together, manufacture together, innovate together and reach new markets together.

Regional stability is essential to this ambition. The situation in the Gulf remains a matter of deep concern. India believes that dialogue and diplomacy are essential to addressing regional tensions, and we will continue to work with our partners in support of all efforts towards peace and stability. We also underscore the importance of ensuring the free, safe and unimpeded flow of trade, energy and fertilisers, which are vital not only to regional economies but also to global food and energy security.

The wider consequences of conflicts, including those in Ukraine is now in its fifth year, remains a matter of serious concern. As Prime Minister Narendra Modi has emphasised, endless war must give way to an end to war. India supports ongoing initiatives to bring peace and believes that diplomatic efforts must continue towards a peaceful resolution. At the same time, the security of seafarers and the uninterrupted supply of food grains and energy remain urgent priorities. India stands ready to contribute, to the extent possible, towards alleviating these challenges, particularly in the areas of food and energy security.

For India and Oman, safeguarding maritime connectivity and maintaining confidence in our regional economic environment are therefore both strategic and commercial priorities.

India–Oman CEPA: Turning Opportunity into Action

Ladies and Gentlemen,

A significant milestone in our bilateral economic relationship is the India–Oman Comprehensive Economic Partnership Agreement, which entered into force on 1 June 2026.

CEPA represents an important step in our shared ambition to expand trade, facilitate investment, improve market access and strengthen cooperation across goods and services.

Under the agreement, Oman has provided zero-duty access on 98.08 per cent of its tariff lines, covering 99.38 per cent of India's exports by value. This creates substantial opportunities for Indian exporters across sectors such as textiles and apparel, engineering goods, pharmaceuticals, agricultural and processed food products, marine products, gems and jewellery, and other manufactured goods.

The agreement also provides a framework for expanding services trade and professional cooperation, subject to the relevant commitments and domestic regulations.

For businesses, these provisions can improve market access, support export diversification and encourage companies to develop longer-term commercial relationships. They can also create incentives for joint ventures, local manufacturing, distribution partnerships and investment in new capabilities.

But the true value of CEPA will not be measured by tariff concessions alone. It will be measured by the businesses that expand, the investments that materialise, the jobs that are created and the new markets that become accessible.

I would therefore urge every business leader here to ask three questions:

What can we trade? What can we build together? And what new markets can we reach together?

First, understand the agreement and identify the opportunities relevant to your sector. Examine applicable tariff concessions, rules of origin, customs procedures and regulatory requirements. Engage with chambers of commerce, industry associations and trade specialists to ensure that your businesses can use the agreement effectively.

Second, move beyond exports towards investment and long-term partnerships. Explore joint ventures, local manufacturing, technology collaboration and stronger distribution networks. Look for opportunities where Indian capabilities and Omani ambitions can reinforce one another.

Third, ensure that small and medium-sized enterprises are part of this opportunity. With the right information, finance, digital tools and business networks, smaller enterprises can participate in cross-border trade and become part of wider regional value chains.

Finally, invest in quality, innovation and skills. Preferential market access creates an advantage, but sustainable success depends on competitive products, recognised standards, reliable delivery and a strong understanding of local markets.

CEPA is not simply an agreement to reduce tariffs; it is an invitation to expand our ambitions.

Let us move from tariff concessions to business decisions, from business decisions to investments, and from investments to lasting partnerships.

Let Indian innovation and Omani ambition work hand in hand to create jobs, strengthen supply chains and open new markets.

CEPA has opened the door. It is now for our businesses to step through it—and build something enduring together.

Shared Prosperity in a Changing World

India’s partnership with the Global South spans trade, infrastructure, capacity development, humanitarian assistance and disaster relief, agriculture, healthcare and clean energy. As India’s own capabilities continue to grow, so does its capacity to contribute to the development priorities of partner countries. An India with greater capabilities is a more capable, credible and effective partner—one that seeks not merely to share its experience, but to build lasting partnerships that deliver tangible benefits for people and communities. Our commitment is to ensure that the benefits of development, science and technology are shared more widely, creating opportunities for generations to come.

Ladies and Gentlemen,

Unprecedented change presents challenges, but it also creates opportunities for those prepared to adapt, innovate and act with confidence.

The global economy needs resilient supply chains, reliable partnerships, skilled people and businesses capable of looking beyond immediate uncertainty. India and Oman possess the foundations to contribute meaningfully to this changing landscape.

Our longstanding friendship provides the trust. Our complementary economic strengths provide the opportunity. CEPA provides a practical framework to translate that opportunity into action.

The task before us now is to turn these advantages into tangible outcomes: greater trade, stronger investment, new technologies, skilled employment and enduring partnerships.

I encourage the business community to approach this new chapter with ambition and imagination, to engage actively with counterparts in India and Oman, and to explore the opportunities that lie before us.

I would  like to express my sincere appreciation to the wise leadership of the Sultanate of Oman for its continued care for the well-being of the Indian community in Oman. The Indian community has long been an integral part of Oman’s social and economic fabric, contributing to the country’s development while maintaining deep bonds of friendship between our two nations. We remain deeply grateful for the support, goodwill and hospitality extended to our community.

I wish the  Business Leadership Summit 2026 every success and look forward to the valuable discussions and partnerships that emerge from this gathering.

Thank you.

Shukran Jazeelan.