With reference to the India and Oman relations, consider the following statements: 1. India exports gasoline, iron and steel, electronics, and machinery to Oman. 2. Oman is India’s third largest export destination among the six Gulf Cooperation Council (GCC) countries. 3. Bilateral trade between India and Oman has been declining in recent years. Which of the statement(s) given above is/are correct? |ForumIAS

Q. With reference to the India and Oman relations, consider the following statements:
1.India exports gasoline, iron and steel, electronics, and machinery to Oman.
2.Oman is India’s third largest export destination among the six Gulf Cooperation Council (GCC) countries.
3.Bilateral trade between India and Oman has been declining in recent years.
Which of the statement(s) given above is/are correct?

[A] 1 only

[B] 1 and 2 only

[C] 2 only

[D] 2 and 3 only

Answer: B

Notes:

Explanation –

Statements 1 and 2 are correct. India exports gasoline, iron and steel, electronics, and machinery to Oman, and imports petroleum products, urea, propylene, and ethylene polymers. Oman is one of the major trading partners for India in the Gulf region, and it is the third largest export destination among the six Gulf Cooperation Council (GCC) countries.

Statement 3 is incorrect. Bilateral trade between India and Oman has been increasing in recent years. In 2021-22, the bilateral trade between the two countries stood at USD 5.02 billion, a significant increase from USD 3.97 billion in 2020-21.

Source: Forum IAS

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