New Delhi, Dec 15: As Prime Minister Narendra Modi embarked on a three-nation visit to Jordan, Ethiopia and Oman on Monday, bolstering economic and trade ties is among the key agenda items of his visit.

PM Modi’s visit is expected to open far-reaching opportunities to enhance the country’s economic footprint across West Asia and Africa.

Last week, the Union Cabinet, chaired by the Prime Minister, approved the proposed Free Trade Agreement (FTA) between India and Oman, aimed at deepening trade and investment relations between the two countries.

The approval also came after Oman’s Shura Council approved the Gulf nation’s proposed FTA with India. The talks for the trade agreement, officially termed the Comprehensive Economic Partnership Agreement (CEPA), formally began in November 2023.

India and Oman share a long-standing and multidimensional Strategic Partnership supported by strong trade ties, energy cooperation and cultural linkages. The economic and commercial relations between India and Oman are robust and buoyant.

The bilateral trade between the two nations reached $8.947 billion during FY 2023-2024, and for FY 2024-25, it stood at $10.613 billion, according to an official statement. Bilateral investment flows have also been strong, as reflected in numerous joint ventures established both in India and Oman.

Moreover, there are over 6,000 India-Oman joint ventures present in Oman, estimated to be adding $7.5 billion to Oman’s economy in the form of total capital investment over a long period.

PM Modi will hold high-level talks with the Sultan of Oman in Muscat and discuss strengthening the Strategic Partnership as well as the strong commercial and economic relationship between the two nations.

Notably, India is Jordan’s third-largest partner, with bilateral trade at around $2.8 billion. Jordan is a key supplier of fertilisers to India, particularly phosphates and potash.

Although the size of India-Ethiopia bilateral trade was around $550 million in FY25, India was the second largest trading partner for the African nation. India’s key exports include primary and semi-finished iron and steel products, drugs and pharmaceuticals, fertilisers and machinery, among others.

Mumbai, Dec 13: Indian equity benchmarks made marginal losses during the week amid sustained FII outflows and uncertainty surrounding the US-India trade negotiations.

However, the market ended the week in a bullish tone with Nifty surging 0.57 per cent on the last trading day after the US Federal Reserve announced a 25-bps rate cut.

Benchmark indices Nifty and Sensex dipped 0.36 and 0.17 per cent during the week to close at 26,046 and 85,267, respectively.

Indian equities opened the week on a subdued note, amid continued rupee depreciation and negative global cues due to rising Japanese bond yields.

The US Fed rate cut later in the week eased liquidity concerns and fuelled hopes of renewed FII inflows. With supportive central bank policies, steady domestic investments, and optimism over trade progress despite unclear timelines, benchmarks closed the week on a strong note.

India’s year-on-year inflation rate based on the Consumer Price Index (CPI) was estimated at 0.71 per cent for November this year which was marginally higher than the 0.25 per cent in October, according to figures released by the Ministry of Statistics.

Broader indices underperformed, with the Nifty Midcap100 and Smallcap100 down 0.51 per cent and 0.67 per cent, respectively, in a week.

Sectoral performance was mixed, with IT under pressure while PSU banks, real estate and consumer durables witnessed selective buying.

Hrishikesh Yedve, AVP Technical and Derivative Research, Asit C. Mehta Investment Interrmediates, said that Nifty’s weekly chart shows buying interest at lower levels.

Nifty has 26,200 and 26,325 as stiff resistance levels while 25,700 will act as support zone, he added.

Analysts said that markets will likely remain positive in near future but sensitive to rupee stability, FII flow trends, trade agreement clarity, and cues from major central banks abroad.

Amidst risks from currency fluctuations and global trade uncertainties, improving earnings visibility and liquidity support provide a constructive backdrop and downside protection, they added.

Nagpur, Dec 12: Chief Minister Devendra Fadnavis on Friday announced that a crucial milestone has been achieved in the journey to establish Maharashtra as a GCC (Global Capability Centre) Hub.

He said that the Brookfield company is set to build Asia’s largest Global Capability Centre (GCC) in Mumbai, spanning approximately 2 million square feet.

The Chief Minister said that this project is expected to generate a total of 45,000 jobs, including 15,000 direct and 30,000 indirect jobs.

He stated that due to the state’s talent pool, infrastructure, and industry-friendly environment, Maharashtra is becoming a preferred destination for Global Capability Centres.

“The new GCC policy will lead to large-scale skill-based job creation and economic growth,” he added.

He also mentioned that FedEx, a global leader in the logistics sector, is keen to invest in its GCC and other operations near the Mumbai-Navi Mumbai airport area, said the government release.

The Chief Minister informed that he requested Microsoft to consider Maharashtra for their investments, noting that their largest existing investment is already in the state.

He expressed confidence that Microsoft will make a major investment in the future and take the lead in making Maharashtra an Artificial Intelligence (AI) centre.

The Chief Minister said that Maharashtra’s model for crime control with the help of Artificial Intelligence is a guiding light for the entire country.

Chief Minister Fadnavis confirmed that Microsoft has assured priority to Maharashtra in their largest ever investment in India, amounting to $17 billion.

He further highlighted the ‘Marble’ platform developed by Maharashtra, which helps detect cyber and financial crimes in just 24 hours instead of 3-4 months.

He said that this has resulted in saving people’s money and has expedited the process of tracking criminals.