India-Oman Trade Pact Boosts Agri-Exports with Duty-Free Access

A new trade pact between India and Oman grants duty-free access to various Indian agricultural and processed food products, enhancing India's export opportunities. The agreement is part of the Comprehensive Economic Partnership Agreement (CEPA) and is expected to significantly benefit India's agri-sector by expanding market presence in Oman.

India's export sector is poised for a boost under the newly signed trade pact with Oman, enabling duty-free access for a range of agricultural and processed food products. Key beneficiaries include basmati rice, cashew kernels, boneless meat, and natural honey. This agreement is part of the Comprehensive Economic Partnership Agreement (CEPA).

Significant gains are anticipated for India's exports of fresh eggs, which already command a 98.3% share in Oman's market. Cheaper Indian goods are expected to gain a price advantage over regional competitors following Oman's exemption of duties on several Indian products that previously faced tariffs up to 100%.

As part of reciprocal terms, India will also waive duties on high-demand Omani exports such as dates, while granting concessions on traditional items like Gum Arabica and Frankincense. The trade enhancement aligns India with other major trade partners in the Gulf region and bolsters economic ties between the two nations.

(With inputs from agencies.)