India and Oman Forge New Economic Path with Trade Agreement

India and Oman have signed a comprehensive economic partnership agreement (CEPA), eliminating import duties on various goods. Expected to be implemented within three months, the CEPA aims to liberalize 77.79% of India's tariff lines, covering 94.81% of India's imports from Oman.

India is set to remove import duties on a range of Omani goods, marking a significant step under the trade agreement signed on December 18. This agreement includes crucial imports like crude petroleum oil, urea, and liquefied natural gas.

The comprehensive economic partnership agreement (CEPA), inked on Wednesday, is projected to roll out in the next three months. The elimination of duties will extend to products including lifeboats, anhydrous ammonia, and sulphur.

India's commitment involves tariff liberalization across 77.79% of its tariff lines, encompassing 94.81% of its Omani imports by value. In fiscal year 2025, India imported $6.6 billion worth of goods from Oman, particularly crude oil, liquefied natural gas, and fertilizers.

(With inputs from agencies.)