The proposed free trade agreement between India and Oman is expected to be concluded and signed shortly, an official said. The trade pact text is currently being translated into Arabic in Oman, following which the cabinets of both countries will approve it.
“Both countries have, in principle, decided to announce the conclusion and signing together,” the official noted, adding that the timeline would be “much less” than two to three months.
Talks for the Comprehensive Economic Partnership Agreement (CEPA) began in November 2023. Such agreements typically reduce or eliminate customs duties on most goods, liberalise trade in services, and encourage investments.
Oman is India’s third-largest export destination among Gulf Cooperation Council (GCC) members. India already has a similar pact with the UAE, implemented in May 2022.
Bilateral trade between India and Oman stood at over $10 billion in 2024–25, with exports worth $4.06 billion and imports worth $6.55 billion. Petroleum products and urea make up over 70% of imports, along with propylene and ethylene polymers, pet coke, gypsum, chemicals, and iron and steel.