India, Oman Finalize Trade Deal Talks, Signing Expected Soon

Fast Summary

• India and Oman are nearing the official announcement of their proposed free trade agreement (FTA).
• The text of the Extensive Economic Partnership Agreement (CEPA) is being translated into Arabic, with final approval needed from both countries’ cabinets.
• Both nations aim to announce the conclusion and signing of the pact together,possibly in less than two to three months.
• CEPA discussions began in November 2023, aiming to ease trading norms for goods and services while boosting investments.
• Oman ranks as India’s third-largest export destination within Gulf Cooperation Council (GCC) countries.
• india has an existing similar FTA with GCC member UAE since May 2022.
• Bilateral trade between india and Oman totaled over USD 10 billion in 2024-25. Exports: USD 4.06 billion; Imports: USD 6.55 billion.
• Key imports include petroleum products (70% of imports), urea, chemicals, iron & steel.

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