FTA with Oman to be finalised soon; Qatar and Saudi Arabia show interest in deeper trade ties with India
Commerce and Industry Minister Piyush Goyal on Friday (August 29, 2025) announced that India is close to finalising a Free Trade Agreement (FTA) with Oman, while Qatar has expressed its interest in negotiating a similar pact with India. He further stated that Saudi Arabia is also keen on expanding trade engagement with New Delhi, reported thehindu.com.
Goyal assured exporters that the government will provide full support to navigate global trade uncertainties, emphasising that India’s exports this year are set to surpass last year’s performance.
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The minister said India is consulting with all stakeholders, including Indian missions abroad, to diversify exports and reduce reliance on a few markets
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He highlighted that reforms in Goods and Services Tax (GST) are expected to further boost domestic consumption
India’s current share in global trade stands at about 2%. Goyal pointed out that nearly 40% of Indian exports to the United States are outside the ambit of the 50% tariff bracket, which would limit the impact of recent trade restrictions.
He also underlined that talks with the European Union for a free trade agreement are progressing at a faster pace, signalling stronger international trade partnerships for India in the near future.
