Oman-India ties to move from buyer-seller model to strategic partnerships; opportunities across sectors: Envoy
Oman and India are strengthening economic ties, moving towards strategic business partnerships. A new Comprehensive Economic Partnership Agreement enhances trade access for Indian exports. Bilateral trade saw a significant increase during the recent fiscal year. Exports to Oman rose substantially after the agreement's implementation. Oman now serves as a key gateway for Indian businesses…
Ahmedabad: Oman and India are set to transition from a traditional buyer-seller economic relationship to strategic business partnerships, according to Oman's Consul General in Ahmedabad, Mahboob Issa Al Raisi. Speaking at the third edition of the CII Gujarat Export Conclave 2026, Raisi highlighted significant prospects in trade, manufacturing, logistics, ports, and investment.
Raisi emphasized Oman's strategic role as a gateway for Indian businesses, enabling them to expand into the Gulf, East Africa, and other international markets. He pointed out that Indian companies can take advantage of Oman's strategic location and logistics capabilities to enhance supply chains and access new markets.
On June 1, 2026, India and Oman inked the Comprehensive Economic Partnership Agreement (CEPA), granting duty-free access to 99.38 percent of India's exports to Oman by value, covering 98.08 percent of its tariff lines. Since its implementation, 783 Certificates of Origin have been issued, and exports to Oman have surged from USD 402.7 million in May 2026 to USD 622.8 million in June 2026, representing the expanded HS 8-digit tariff lines.
Bilateral trade between India and Oman surged to USD 10.61 billion in FY 2024-25, up from USD 8.94 billion in FY 2023-24. During the April-October 2025 quarter, trade stood at USD 6.48 billion, with India's merchandise exports to Oman reaching USD 4.02 billion and imports from Oman amounting to USD 6.55 billion.
Written by urgent.news from The Economic Times - Economy's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
