India and Oman: Strategic Players Forge New Trade Path

India and Oman have signed a Comprehensive Economic Partnership Agreement (CEPA) to bolster economic ties, marking 70 years of diplomatic relations. The agreement aims to enhance market access, boost investments, and diversify trade, while reinforcing the strategic partnership between the two nations.

India and Oman have officially signed a Comprehensive Economic Partnership Agreement (CEPA), marking a new era in their bilateral relations. Lead discussions were held between Prime Minister Narendra Modi and Sultan Haitham bin Tarik in Muscat, during the concluding part of Modi's three-nation tour which included stops in Ethiopia and Jordan.

The meeting at Al Baraka Palace served as a platform to exchange views on topics ranging from defense and security to trade and culture. The agreement, hailed as a significant milestone, promises to improve market access, investment, and cooperation across key economic sectors, while supporting India's strategic goal of trade diversity.

This FTA, Oman's second with an individual country, reflects a broader trade strategy of securing economic resilience and growth amid global economic shifts. As exports and imports between India and Oman grow, the partnership is expected to unlock substantial economic opportunities for both nations' markets and strengthen their collective presence across the Gulf Cooperation Council.

(With inputs from agencies.)