India-Oman CEPA: Paving the Path for Thriving Trade and Innovation

India and Oman have signed a historic Comprehensive Economic Partnership Agreement (CEPA) enhancing bilateral trade and investment. The pact provides duty-free access for 98% of India's exports to Oman, aiming to invigorate ties across sectors, including textiles, agri-tech, and green energy, promising long-term growth opportunities.

On Thursday, Prime Minister Narendra Modi announced that the India-Oman Comprehensive Economic Partnership Agreement (CEPA) will inject fresh energy into trade and investment links between the two nations, fostering mutual growth and opportunity.

Modi, speaking at the India-Oman Business Forum, emphasized the long-standing maritime trading relations between India and Oman, which form the cornerstone of current commercial exchanges. The countries have signed a free trade agreement granting duty-free access to 98% of India's exports to Oman, covering textiles, agri, and leather goods.

He referred to the CEPA as a roadmap for a shared future, urging business leaders to maximize the potential of this trade pact. Modi highlighted India's economic trajectory, citing reforms like GST and IBC, and invited Omani businesses to explore investments in emerging sectors such as green energy and fintech.

(With inputs from agencies.)