India’s Commerce and Industry Minister, Piyush Goyal, announced that the Comprehensive Economic Partnership Agreement (CEPA) between India and Oman is expected to be rolled out within the next three months. The agreement aims to boost trade, investment, and economic cooperation between the two countries, deepening India’s engagement with the Gulf region.
Goyal made the statement during his visit to Muscat, where he met Oman’s Minister of Commerce, Industry, and Investment Promotion, Qais bin Mohammed Al Yousef. He highlighted that negotiations for the CEPA have been progressing rapidly and are in the final stages. India and Oman expect the pact to unlock new opportunities for businesses, especially in sectors like energy, engineering goods, textiles, chemicals, food processing, and healthcare.
Bilateral trade between India and Oman currently stands at around USD 12 billion, with India being one of Oman’s largest trading partners. In 2024–25, India exported goods worth over USD 6 billion to Oman and imported petroleum products, fertilizers, and minerals in return. The CEPA is expected to help reduce tariffs, encourage investments, and enhance collaboration in technology and renewable energy.
Oman is home to over 700,000 Indian expatriates, making the partnership crucial for cultural and economic ties. Officials believe the CEPA will strengthen India’s “Look West” policy, complementing its other trade pacts with the UAE and Saudi Arabia.
If implemented as scheduled, the India–Oman CEPA could give a major boost to India’s trade footprint in the Gulf and help both nations diversify their economies beyond oil. The agreement is also seen as a step towards establishing a stronger India-GCC trade corridor in the coming years.
FAQs [Frequently Asked Questions]
Q1. What is the India–Oman CEPA?
The India–Oman Comprehensive Economic Partnership Agreement (CEPA) is a bilateral trade deal aiming to strengthen economic cooperation, boost investments, and reduce tariffs between both countries.
Q2. When will the India–Oman CEPA be implemented?
According to Commerce Minister Piyush Goyal, the CEPA between India and Oman is likely to be rolled out within the next three months after final negotiations conclude.
Q3. Which sectors will benefit most from the CEPA?
Key beneficiaries include energy, engineering goods, fertilizers, food processing, healthcare, textiles, and renewable energy sectors, with increased trade, tariff reductions, and investment opportunities for both economies.
Q4. Why is the CEPA important for India–Oman relations?
The agreement will deepen trade and cultural ties, support India’s Look West policy, promote new business collaborations, and strengthen India’s presence in the Gulf region’s fast-growing markets.