Union Commerce and Industry Minister Piyush Goyal on Monday said that India and Oman have discussed unlocking opportunities under the proposed CEPA to boost bilateral trade and investment ties for the mutual growth of both nations.
The minister shared details of his telephonic conversation with Oman’s Minister of Commerce, Industry and Investment Promotion, Anwar bin Hilal bin Hamdoun Al Jabri, stating that both sides explored ways to deepen economic engagement between the two countries.
In a post on social media platform X, Goyal said the discussions focused on leveraging the India-Oman Comprehensive Economic Partnership Agreement (CEPA) to enhance trade flows and investment opportunities.
The agreement, signed in Muscat in December 2025, is yet to be implemented but is expected to significantly strengthen economic ties once it comes into force.
“Held a telecall with H.E. Anwar bin Hilal bin Hamdoun Al Jabri, Oman’s Minister of Commerce, Industry and Investment Promotion,” Goyal said.
“Discussed unlocking opportunities under the India-Oman CEPA to boost bilateral trade and investment ties for the mutual growth of both nations,” he added.
Under the proposed CEPA, about 98 per cent of India’s exports — including textiles, agricultural products and leather goods — are set to receive duty-free access to the Oman market.
In return, India will reduce tariffs on key Omanese exports such as dates, marble and petrochemical products, paving the way for more balanced trade.
The latest engagement is part of a series of high-level interactions by Goyal with key partners in the Gulf region.
In recent days, he has held discussions with trade ministers from Saudi Arabia, the United Arab Emirates, Bahrain and Kuwait to expand India’s economic footprint in West Asia.
India and Oman share a strong and longstanding trade relationship, with bilateral trade reaching about $10.5 billion in 2024-25.
Of this, India’s exports stood at around $4 billion, while imports were valued at $6.54 billion.
–IANS
