India Oman CEPA Signed During Modi’s Visit
India Oman CEPA Signed in Muscat marks a historic step in bilateral relations. Prime Minister Narendra Modi and Sultan Haitham bin Tarik formalized the agreement during Modi’s two-day visit to Oman. The pact aims to boost trade, attract investments, and strengthen cooperation across multiple sectors, including textiles, agriculture, leather goods, technology, and energy.
Commerce and Industry Minister Piyush Goyal and Oman’s Minister Qais bin Mohammed Al Yousef signed the CEPA. The agreement gives nearly 98% of Indian exports duty-free access to Oman, opening new business opportunities.
Trade and Investment Opportunities
The India Oman CEPA Signed will create fresh avenues for Indian businesses. Modi emphasized that the agreement supports economic diversification, strengthens supply chains, and generates jobs. The pact encourages Omani investment in renewable energy, solar parks, fintech, AI, cybersecurity, and agri-tech.
Modi also proposed setting up an India Oman Agri Innovation Hub and an Innovation Bridge to promote collaboration between entrepreneurs and startups in both countries.
Strategic and Cultural Ties
The leaders reviewed the India Oman Strategic Partnership, covering defense, security, trade, and cultural exchanges. Modi highlighted 70 years of diplomatic relations, citing centuries-old maritime links from Mandvi to Muscat. He stressed that the CEPA builds on trust and shared history while laying the foundation for future collaboration.
During the visit, Modi received the First Class of the Order of Oman, the country’s highest honor, reflecting the warmth of bilateral relations.
Economic Impact and Future Prospects
India Oman CEPA Signed aims to raise bilateral trade, which reached USD 10.5 billion in 2024–25. Indian exports totaled USD 4 billion, while imports stood at USD 6.54 billion. Oman is India’s third-largest export destination in the Gulf Cooperation Council, making the CEPA crucial for enhancing economic ties.
Officials expect the agreement to boost jobs, market access, and growth on both sides. The CEPA aligns with India’s broader strategy of expanding free trade agreements, strengthening resilience, and creating mutually beneficial partnerships globally.
