India set to sign trade deal with Oman in its Gulf push

Bilateral trade between India and Oman stood at about $10.5 billion in 2024-25

- Dhirendra Kumar

PM Narendra Modi arrived in Oman on Wednesday and was received by Oman's deputy prime minister for defence affairs Sayyid Shihab bin Tariq Al Said.

(PTI)

As the India-Oman free trade agreement (FTA) is set to be signed on Thursday during Prime Minister Narendra Modi's visit to Muscat, the deal is being positioned as a key pillar of India's expanding economic and strategic engagement with the Gulf, even as its immediate trade upside remains moderate by the size of Oman's market.

The Comprehensive Economic Partnership Agreement (CEPA) will be the final stop of the Prime Minister's 3-nation tour, which included Jordan and Ethiopia. Negotiated since November 2023, the pact covers goods, services and investment and is expected to come into force in a few months, following domestic ratification.

The FTA will be signed in the presence of Modi and Oman's head of state, along with senior officials from both sides, per a commerce ministry official.