The India-Oman trade agreement is expected to go into effect within the next three months, Commerce and Industry Minister Piyush Goyal stated, emphasising faster implementation deadlines and expanded market access for Indian exporters. He stated that both countries had worked intentionally to minimise the delays witnessed in previous global trade agreements, noting the Oman-United States agreement, which took nearly three years to enter into force.
The Comprehensive Economic Partnership Agreement, signed during PM Modi’s visit to Oman, seeks to improve bilateral commerce by providing duty-free access to several labour-intensive Indian goods. The agreement also offers faster approvals for pharmaceutical items, with automatic clearances within 90 days for medicines and manufacturing facilities approved by several international regulators.
According to the deal, India will lower duties on 78% of its tariff lines, accounting for over 95% of imports from Oman, while sensitive products will be regulated through tariff-rate limits. In exchange, Indian exporters will have zero-duty access to more than 98% of Oman’s tariff lines, which account for more than 99% of exports by value.
Bilateral merchandise trade increased to $10.61 billion in 2024-25, up from $8.94 billion the previous year, indicating continuous expansion in goods and services across key sectors.
