India-Oman: A New Horizon in Economic Partnerships

Prime Minister Narendra Modi announced that the Comprehensive Economic Partnership Agreement (CEPA) between India and Oman will invigorate bilateral relations with new confidence and energy. Speaking at the India-Oman Business Summit, Modi emphasized India's progressive nature and invited Omani companies to join India's growing economy.

In a significant announcement, Prime Minister Narendra Modi stated that the Comprehensive Economic Partnership Agreement (CEPA) between India and Oman will breathe new life into bilateral ties. Speaking at the India-Oman Business Summit, the Prime Minister underscored that this agreement will bring new confidence and energy to the countries' relationship in the 21st century.

Highlighting India's progressive and self-driven nature, Modi remarked that India's growth is mutually beneficial, especially given the close maritime ties and longstanding business relationships with Oman. He emphasized that India's trajectory towards becoming the world's third-largest economy will positively impact not just India, but its allies like Oman.

Moreover, Modi invited Omani businesses to engage with India's dynamic economy, which has been transformed through policy reforms such as the Goods and Services Tax (GST) and the Insolvency and Bankruptcy Code (IBC). Bilateral trade between the two nations stood at around USD 10.5 billion in the financial year 2024-25.

(With inputs from agencies.)