India and Oman have annual trade of less than $13 billion, but the relationship is important for New Delhi as the Gulf nation is a gateway to the narrow Strait of Hormuz between Oman and Iran
The volume, says EPB chief Shubhashish Bose, will not be down, but weaker euro and Russian ruble will mean the exporters will take home much less. The FY 2016 target will get formal approval at a meeting on Wednesday (Jul 8, 2015).