India is set to sign a Comprehensive Economic Partnership Agreement (CEPA) with Oman, marking an important step in strengthening India's economic engagement with the Gulf region.
The proposed India-Oman Comprehensive Economic Partnership Agreement (CEPA) is expected to significantly boost India's industrial exports, as import duties in Oman currently range from zero to as high as 100 per cent on select products, according to a report by the Global Trade Research Init
India-Oman Free Trade Agreement will open up significant opportunities across sectors including textiles, food processing, automobiles, gems and jewellery, agrochemicals, renewable energy and auto components. This was stated by Union Minister of Commerce and Industry, Piyush Goyal, while add
"As of now, we are at an advanced stage of dialogue with Oman (on FTA), which should conclude soon. Some of the other countries have expressed an interest. Surely we are open to free trade agreements with other GCC (Gulf Cooperation Council) countries," Goyal said.
In a week's time, chances are high that India and Oman will ink a Free Trade Agreement (FTA) to boost trade and commerce between both countries, Minister of Commerce Piyush Goyal said on Wednesday.