India’s Commerce Minister hints at imminent CEPA deal to strengthen bilateral trade and investment ties
India is on the verge of finalizing a Free Trade Agreement (FTA) with Oman, Commerce and Industry Minister Piyush Goyal said during his official visit to France. The deal, expected to be announced soon, is set to boost economic relations between the two nations by streamlining trade and encouraging greater investment, reported ddnews.gov.in.
The India-Oman CEPA aims to be a key milestone in bilateral relations, covering trade, investment, energy, and food security.
Speaking to reporters, Goyal remarked, “I think you will see some good news very soon on the Oman FTA.” His comments come as he represents India at a ministerial meeting of the World Trade Organization (WTO) in France, promoting Indian trade interests globally.
Talks began in November 2023, with significant progress made during Goyal’s Oman visit in January 2025
Negotiations for the India-Oman Comprehensive Economic Partnership Agreement (CEPA) started in late 2023. A major boost to the dialogue came in January 2025, when Goyal co-chaired the 11th India-Oman Joint Commission Meeting with Oman’s Minister of Commerce, Industry, and Investment Promotion, Qais bin Mohammed Al Yousef. The ministers agreed to accelerate CEPA talks, aiming for a swift conclusion.
Oman is India’s third-largest export destination among Gulf Cooperation Council (GCC) nations. In FY 2024-25, bilateral trade stood at USD 10.5 billion, with Indian exports valued at USD 4 billion and imports at USD 6.54 billion. Officials view the CEPA as a transformative framework that will deepen cooperation across key sectors such as renewable energy, food security, and technology.
