The signing of CEPA marks the beginning of a new chapter—one defined by deeper economic integration, stronger strategic trust, and a shared vision for inclusive and sustainable growth across the Indian Ocean region
PRAVASISAMWAD.COM
The Sultanate of Oman and the Republic of India have entered a decisive new phase in their long-standing relationship with the signing of the Comprehensive Economic Partnership Agreement (CEPA) in Muscat.
The landmark agreement was signed at Al Barakah Palace in the presence of His Majesty Sultan Haitham bin Tarik and the Honourable Prime Minister of India, Shri Narendra Modi, underscoring the political commitment at the highest level to deepen bilateral cooperation.
The signing of CEPA carries special significance as it coincides with the 70th anniversary of diplomatic relations between Oman and India, while also reflecting centuries-old maritime and trade links between the two nations. The agreement builds on the momentum generated by His Majesty Sultan Haitham bin Tarik’s state visit to India in December 2023 and signals a shared ambition to elevate ties into a comprehensive and future-oriented strategic partnership.
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During their bilateral consultations, the two leaders expressed satisfaction with the robust and diversified nature of Oman–India relations, which now span trade and investment, energy, defence and security, technology, education, space, agriculture, tourism, culture, and people-to-people exchanges
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They reviewed progress under the Joint Vision Document adopted in 2023 and reaffirmed their commitment to sustained collaboration across identified priority sectors
India acknowledged Oman’s achievements in economic diversification and sustainable development under Vision 2040, while Oman commended India’s steady economic growth and its long-term goal of becoming a developed nation under the “Viksit Bharat 2047” vision. Both sides recognized strong complementarities between their national development strategies and agreed to leverage these synergies for mutual benefit.
The CEPA was signed on behalf of Oman by Qais bin Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion, and on behalf of India by Piyush Goyal, Minister of Commerce and Industry. The ceremony was witnessed by senior ministers, policymakers, diplomats, and leading representatives from the Omani and Indian business communities, reflecting broad-based support for the agreement.
Alongside the signing, a high-level business summit and multiple B2B and B2G roundtable discussions were held, focusing on expanding trade, enhancing investment flows, and fostering long-term partnerships.
Presentations by Invest Oman and Invest India highlighted priority projects, investor-friendly policies, and incentives available in both markets. Key discussions emphasized streamlining logistics, addressing regulatory challenges, strengthening private-sector collaboration, and promoting technology and knowledge transfer as drivers of sustainable growth.
Industry leaders and policymakers from sectors such as manufacturing, energy, tourism, chemicals, steel, healthcare, agri-business, and advanced technologies shared perspectives on emerging opportunities and joint investment avenues. Tourism was identified as a major growth area, with CEPA expected to boost travel, hospitality, cultural exchange, and people-to-people connectivity.
Manufacturing and industrial cooperation were also highlighted as engines for value creation, job generation, and “Made in Oman” and “Make in India” initiatives
The agreement is widely viewed as a catalyst for positioning Oman as a strategic gateway for Indian businesses to markets across the Middle East, Africa, West Asia, Europe, and beyond. Business leaders described CEPA not merely as a trade pact, but as a strategic blueprint for long-term economic integration, innovation-led growth, and shared prosperity.
Several additional memoranda of understanding were signed during the visit, covering areas such as maritime cooperation, heritage and museums, agriculture and allied sectors, higher education, chamber-to-chamber collaboration, agri-food innovation, and millet cultivation. These agreements further strengthen institutional linkages and broaden the scope of bilateral engagement.
Speaking on the occasion, senior stakeholders acknowledged the sustained efforts of both governments, particularly the leadership of Oman’s Ministry of Commerce, Industry and Investment Promotion and the Oman Chamber of Commerce and Industry, in bringing CEPA to fruition. The agreement is expected to play a critical role in advancing Oman Vision 2040 and India’s Viksit Bharat 2047, setting a benchmark for modern economic partnerships.
The Indian Prime Minister expressed gratitude for the warm hospitality extended by His Majesty Sultan Haitham bin Tarik and reiterated India’s commitment to working closely with Oman for the benefit of future generations.
