Boost for India's Pharma Exports: Duty-Free Entry to Oman's Market

India's pharmaceutical sector welcomes a strategic gain as Oman grants duty-free access to vital medicines and vaccines. This new agreement promises expedited regulatory approvals and reduced compliance costs, offering a significant opportunity for Indian drug manufacturers to penetrate Oman's growing market.

India's pharmaceutical exports are set for a substantial boost following a new agreement with Oman. The Gulf nation will provide duty-free market access to key finished medicines and vaccines, streamlining approval processes for Indian goods.

The recently signed comprehensive economic partnership agreement (CEPA) grants duty-free access for essential active pharmaceutical ingredients like penicillins, streptomyces, tetracyclines, and erythromycins. Furthermore, an expedited 90-day pathway for marketing authorisations is available for products approved by major international regulatory bodies.

Oman's acceptance of Good Manufacturing Practice certifications from recognized authorities will help Indian manufacturers reduce costs associated with duplicate inspections. With the Omani pharmaceutical market projected to reach significant growth, this agreement marks a pivotal opportunity for India's pharma industry.

(With inputs from agencies.)