5 months ago
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Confirming that India and Oman volition beryllium signing a Free Trade Agreement (FTA) connected Thursday (December 18, 2025), Commerce Minister Piyush Goyal said that the FTA offers “immense opportunities” successful a fig of sectors, including textiles, footwear, automobiles, gems and jewellery, renewable energy, and car components.
Speaking astatine the India-Oman Business Forum successful Muscat, Mr. Goyal added that India stands to summation successful presumption of the entree Oman provides to different markets specified arsenic the GCC region, eastbound Europe, cardinal Asia, and Africa.
India and Oman launched negotiations connected a Comprehensive Economic Partnership Agreement (CEPA) successful November 2023. During his speech, Mr. Goyal said helium and his counterpart successful Oman would motion the Agreement successful the beingness of Prime Minister Narendra Modi and Sultan Haitham bin Tarik.
The Hindu had connected December 17 reported that Mr. Modi and Mr. Goyal would beryllium traveling to Oman this week to motion the FTA.
“This escaped commercialized statement offers immense opportunities successful presumption of respective sectors including textiles, footwear, automobiles, gems and jewellery, renewable energy, and car components,” Mr. Goyal said. “The entity is the bounds successful presumption of potential, peculiarly with Oman opening the doors arsenic a gateway to the Gulf Cooperation Council region, eastbound Europe, cardinal Asia, and to Africa.”
He added that determination are 4 wide areas successful which the 2 countries tin collaborate with each other.
“One is successful the vigor modulation that some are committed to, whether it’s renewable sources of energy, artillery storage, greenish hydrogen, that full ecosystem tin unfastened up betwixt Oman and India and unneurotic for the remainder of the world,” Mr Goyal said.
The 2nd area, helium said, was successful infrastructure, multimodal logistics, and export warehouses.
“Another country would beryllium nutrient security,” Mr. Goyal said. “We tin assistance Oman guarantee nutrient security, whether we tin enactment unneurotic to marque this a hub from wherever we enactment for the remainder of the respective reaches that I conscionable described, nutrient parks, determination is simply a batch of imaginable successful this area.”
The 4th area, the Commerce Minister said successful which India and Oman could enactment unneurotic was to make their startup ecosystems.
“The startups tin prosecute with each other, physique bridges, enactment connected heavy tech oregon smarter ways to enactment connected logistics bundle services, artificial intelligence, determination is tremendous imaginable to leverage this country arsenic a hub,” Mr Goyal said.
