Muscat [Oman], June 5: The Oman-India comprehensive economic partnership agreement (Cepa) came into force on June 1, five months after it was signed last December.
The Cepa is expected to drive substantial expansion in trade through enhanced market access, cooperation and investment flows, India's ministry of commerce and industry said in a statement.
Oman is India's second-largest trading partner in the Gulf. Bilateral trade reached $11.2 billion in 2025-26, up from $10 billion in 2024-25. India's financial year begins on April 1.
"With 99.38 percent of India's exports receiving duty-free access, the Cepa unlocks new opportunities for our exporters and professionals to gain opportunities," Indian commerce and industry minister Piyush Goyal said.
India will provide duty-free access for up to 2,000 tonnes of Omani dates annually. Concessions have been extended to products such as gum arabic, used in food and medicines, frankincense used in the perfume industry, petrochemicals and marble blocks, Indian media reported.
In February, the Gulf Cooperation Council (GCC) and India signed terms of reference to resume talks aimed at finalising a free trade agreement.
India's exports to the GCC grew by 1 percent to $57 billion in 2024-25, while imports from the bloc rose 15 percent to $122 billion, the report said.
The UAE and India signed a Cepa in 2022 when bilateral trade stood at around $60 billion. An initial goal of $100 billion has been achieved, with a new target of $200 billionby 2032.
Source: Qatar Tribune
