India-Oman Trade Agreement Set to Launch on June 1, 2024
India, Oman Trade Partnership Deal To Come Into Force From June 1; Know What's Inside
News 18
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India's Comprehensive Economic Partnership Agreement (CEPA) with Oman will take effect on June 1, allowing Indian exporters duty-free access to 98.08% of Oman’s tariff lines. This agreement aims to enhance bilateral trade, which reached $11.18 billion in 2025-26, and covers various sectors including textiles and pharmaceuticals.
- 01The CEPA provides India with 100% duty-free access for exports covering 98.08% of Oman’s tariff lines.
- 02Products worth approximately $3.64 billion will enter Oman duty-free, previously subject to import duties up to 5%.
- 03Bilateral trade between India and Oman increased to $11.18 billion in 2025-26, with Indian exports at $4.02 billion.
- 04Sensitive sectors like dairy and edible oils are excluded from tariff concessions to protect local industries in India.
- 05The agreement encompasses trade in goods and services, investments, and intellectual property rights.
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India's Comprehensive Economic Partnership Agreement (CEPA) with Oman is set to come into effect on June 1, 2024, facilitating near-complete duty-free access for Indian exporters to the Omani market. This agreement marks a significant advancement in bilateral trade relations, being the fifth such deal under Prime Minister Narendra Modi's administration. Under the CEPA, India will gain 100% duty-free market access for exports covering 98.08% of Oman’s tariff lines, allowing products worth about $3.64 billion to enter Oman without import duties, which previously reached up to 5%. The sectors expected to benefit include textiles, agriculture, processed food, and pharmaceuticals. In 2025-26, bilateral trade between the two nations rose to $11.18 billion, with Indian exports totaling $4.02 billion. While Oman has largely opened its market, India has excluded several sensitive sectors to safeguard domestic interests. The CEPA's comprehensive nature also includes provisions for investments and intellectual property rights, aiming to strengthen India's economic footprint in the Gulf region and foster new business opportunities.
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The CEPA is expected to enhance India's export competitiveness in Oman, potentially increasing job opportunities in various sectors.
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