India and Oman have recently entered into a comprehensive trade agreement aimed at deepening their long-standing partnership and strengthening economic cooperation. Union Minister of Commerce and Industry Piyush Goyal described the pact as a significant milestone, highlighting its importance in advancing bilateral trade and investment ties.
The agreement is intended to enhance trade flows between the two countries by reducing customs duties and other tariff barriers, while offering Omani exporters improved access to the Indian market. At the same time, Indian goods and services are expected to gain greater competitiveness and visibility across Oman and the wider Gulf region.
Speaking on the broader strategic context, the Commerce and Industry Minister noted that the pact aligns with India’s efforts to diversify its global trade relationships, particularly with countries in West Asia. The agreement is expected to foster closer economic engagement, open new investment avenues and support the expansion of export revenues for both nations.
The framework also aims to encourage collaboration across traditional export sectors and services, while facilitating technology exchange and stronger supply chain integration. By creating a more predictable and supportive trade environment, the agreement is positioned to enhance business confidence, attract investments and support sustainable long-term growth in India–Oman economic relations.
Summary
India and Oman have signed a comprehensive trade agreement to strengthen bilateral economic ties. The pact focuses on reducing trade barriers, improving market access, encouraging investment and enhancing cooperation across goods, services, technology and supply chains, marking a new phase in the India–Oman partnership.
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