Thu Dec 18 11:15:28 UTC 2025: Here’s a summary and a news article version of the provided text:
Summary:
India and Oman signed a Comprehensive Economic Partnership Agreement (CEPA) on December 18, 2025. The deal grants duty-free access to 98% of India’s exports to Oman, particularly benefiting textiles, agriculture, and leather. In return, India will reduce tariffs on Omani dates, marbles, and petrochemicals. The CEPA also includes enhanced mobility for Indian professionals and increased Foreign Direct Investment (FDI) opportunities in Oman. The agreement seeks to counterbalance tariffs imposed by the U.S. and bolster India’s trade relations within the Gulf Cooperation Council (GCC) region.
News Article:
India and Oman Ink Landmark Free Trade Agreement
Muscat, Oman – December 18, 2025 – In a move aimed at strengthening bilateral trade and diversifying its export markets, India and Oman today signed a landmark Comprehensive Economic Partnership Agreement (CEPA). The agreement, finalized in Muscat, will significantly reduce or eliminate tariffs on a wide range of goods traded between the two nations.
Prime Minister Narendra Modi and Sultan of Oman Haitham bin Tarik witnessed the signing ceremony where Commerce and Industry Minister Piyush Goyal and Oman’s Minister of Commerce, Industry and Investment Promotion Qais bin Mohammed Al Yousef formally sealed the deal.
The CEPA will grant duty-free access to 98% of Indian exports to Oman, including key sectors like textiles, agriculture, leather, gems, jewellery, engineering goods, pharmaceuticals, medical devices, and automobiles. India will, in turn, liberalize tariffs on 77.79% of its tariff lines, covering Omani products such as dates, marbles, and petrochemicals. While certain sensitive Indian agricultural products such as dairy, tea, coffee, rubber, and tobacco products; gold and silver bullion, jewellery, footwear, and sports goods have been excluded from concessions.
“This agreement marks a significant step forward in bolstering the economic ties between India and Oman,” stated Minister Goyal. “It will provide substantial opportunities for Indian businesses and enhance our competitiveness in the region.”
Beyond trade in goods, the CEPA includes provisions for enhanced mobility for Indian professionals. Oman has committed to increasing the quota for intra-corporate transferees and extending the duration of stay for contractual service suppliers. Oman will extend substantial commitments across a broad spectrum of sectors including computer related services, business and professional services, audio-visual services, research and development, education and health services, and also allows 100% FDI by Indian companies in major services sectors.
Analysts note that the agreement is particularly timely, given the recent imposition of steep tariffs on Indian goods by the United States. The CEPA also aligns with India’s broader strategy of strengthening trade relationships within the GCC, following a similar pact with the UAE in 2022.
The deal is expected to come into force in the first quarter of next year, further solidifying Oman’s position as a crucial gateway for Indian goods and services to the Middle East and Africa.
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