- Beyond economics, the partnership carries strategic significance. Oman’s geographic position offers Indian businesses a gateway to the GCC, Africa, and beyond, while India provides Oman access to one of the world’s fastest-growing consumer markets
- Once fully implemented, CEPA is expected to redefine bilateral engagement and serve as a foundation for shared prosperity in the years ahead
Oman and India are entering a renewed phase of economic collaboration, marked by stronger trade ties, expanding investment flows, and a shared vision for long-term growth. This momentum was reinforced during high-level discussions between Qais bin Mohammed Al Yousef, Oman’s Minister of Commerce, Industry and Investment Promotion, and Piyush Goyal, India’s Minister of Commerce and Industry, held on the sidelines of the Oman–India Business Dialogue in Muscat.
The engagement coincided with Indian Prime Minister Narendra Modi’s official visit to Oman, which also commemorated 70 years of diplomatic relations between the two countries. The milestone underscored the depth of historical ties while highlighting a collective ambition to translate goodwill into tangible economic outcomes through the Comprehensive Economic Partnership Agreement (CEPA).
Central to the discussions was Oman’s evolving role as a competitive investment destination. The Sultanate’s business-friendly policies, integrated investor services, and incentives offered through its Special Economic Zones were emphasized as key enablers of economic diversification under Oman Vision 2040. These zones are increasingly attracting global and regional investors seeking access to strategic markets and resilient supply chains.
- Both sides welcomed the conclusion of negotiations on the Oman–India CEPA, describing it as a transformative trade framework
- As Oman’s first free trade agreement in nearly 20 years, CEPA is designed to lower trade barriers, improve market access, and formalize cooperation across goods, services, and investments
- Attention is now shifting toward effective implementation, with clear timelines, ratification processes, and institutional oversight. The Oman–India Joint Committee will play a central role in guiding this phase, including preparations for its upcoming 12th session in India
Bilateral economic indicators reflect the growing strength of the partnership. India is currently Oman’s third-largest trading partner, with trade volumes exceeding USD 10.6 billion in 2024–25. Indian investments in Oman have surpassed USD 5 billion, supported by more than 6,000 joint ventures spanning logistics, manufacturing, green industries, and services.
Looking ahead, both countries have identified priority sectors for deeper collaboration. These include renewable energy and energy transition solutions, infrastructure and logistics, food security and agribusiness, advanced technologies such as artificial intelligence, and high-value manufacturing. Together, these sectors offer opportunities to boost productivity, foster innovation, and create sustainable employment.
