Piyush Goyal Highlights India-Oman CEPA for Trade Growth
Synopsis
Union Minister Piyush Goyal reveals plans for the **India-Oman CEPA** to enhance bilateral trade and investment, aiming for mutual growth. The agreement, although not yet in effect, promises significant economic benefits for both nations.
Key Takeaways
The India-Oman CEPA is expected to enhance bilateral trade.
98% of Indian exports may receive duty-free access to Oman.
India will reduce tariffs on key Omani exports.
Ongoing discussions with Gulf nations aim to expand India’s economic footprint.
Bilateral trade reached $10.5 billion in 2024-25.
New Delhi, April 13 (NationPress) The Union Minister of Commerce and Industry, Piyush Goyal, announced on Monday that discussions are underway between India and Oman regarding the unlocking of opportunities through the anticipated Comprehensive Economic Partnership Agreement (CEPA). This initiative aims to enhance bilateral trade and investment relations for the shared prosperity of both nations.
During a recent phone call with Oman’s Minister of Commerce, Industry and Investment Promotion, Anwar bin Hilal bin Hamdoun Al Jabri, Goyal disclosed that both parties are exploring avenues to strengthen economic ties between their countries.
In a post shared on the social media platform X, Goyal emphasized that the dialogue was centered on utilizing the India-Oman CEPA to improve trade dynamics and investment prospects.
Although the agreement was signed in Muscat in December 2025, it has yet to be put into action. However, its implementation is anticipated to significantly bolster economic relations once enacted.
Goyal stated, “I had a telecall with H.E. Anwar bin Hilal bin Hamdoun Al Jabri, Oman’s Minister of Commerce, Industry and Investment Promotion.”
“We discussed unlocking opportunities under the India-Oman CEPA to elevate bilateral trade and investment ties for the benefit of both nations,” he added.
As per the proposed CEPA, approximately 98% of India’s exports, including textiles, agricultural products, and leather items, are expected to gain duty-free access to the Oman market.
In exchange, India will lower tariffs on crucial Omani exports such as dates, marble, and petrochemical products, facilitating a more balanced trade relationship.
This recent engagement is part of ongoing high-level discussions initiated by Goyal with key Gulf region partners.
In recent days, he has also engaged with trade ministers from Saudi Arabia, the United Arab Emirates, Bahrain, and Kuwait to expand India’s economic presence in West Asia.
India and Oman enjoy a robust and enduring trade partnership, with bilateral trade estimated at around $10.5 billion for 2024-25.
Of this total, India's exports were approximately $4 billion, while imports amounted to $6.54 billion.
Point of View
This agreement stands to significantly impact both economies positively.
NationPress
5 Jul 2026
Frequently Asked Questions
What is the purpose of the India-Oman CEPA?
The India-Oman CEPA aims to enhance bilateral trade and investment, providing duty-free access for a majority of India's exports to Oman and reducing tariffs on key Omani goods.
When was the CEPA signed?
The CEPA was signed in December 2025 but is yet to be implemented.
What are the expected benefits of the CEPA?
The CEPA is expected to significantly strengthen economic ties, boost trade volumes, and create investment opportunities for both India and Oman.
How much trade occurs between India and Oman?
Bilateral trade between India and Oman reached approximately $10.5 billion in 2024-25.
What products will benefit from the CEPA?
India’s textiles, agricultural products, and leather goods will receive duty-free access, while Oman’s exports like dates, marble, and petrochemical products will see reduced tariffs.
