The free trade agreement (FTA) between India and Oman is anticipated to come into effect on June 1, 2026, as announced by Commerce and Industry Minister Piyush Goyal. Signed in December 2025, this agreement will grant duty-free access to 98% of India's exports, which include textiles, agricultural products, and leather goods, into Oman. Conversely, India will reduce tariffs on several Omani products such as dates, marbles, and petrochemical items. Goyal mentioned that the Omani delegation is in India to explore avenues for enhancing trade and investment. Additionally, he discussed ongoing negotiations with Chile for a Comprehensive Economic Partnership Agreement (CEPA), which aims to expand upon the existing preferential trade agreement from 2006 and cover critical sectors including digital services and critical minerals. The bilateral trade between India and Chile remains modest, with India's exports to Chile declining by 2.46% to $1.15 billion in 2024-25, while imports surged by 72% to $2.60 billion.