India, Oman to Sign Free Trade Agreement on December 18
India and Oman are set to sign a Free Trade Agreement on December 18, marking a significant step in strengthening bilateral economic relations. Commerce and Industry Minister Piyush Goyal confirmed the development, stating that the agreement will deepen trade, investment and strategic cooperation between the two countries.
Agreement After Extended Negotiations
The trade pact, formally described as a Comprehensive Economic Partnership Agreement, comes after nearly two years of negotiations. Talks between the two sides focused on reducing tariff barriers, improving market access and creating a predictable framework for trade and investment. Officials said the agreement is now ready for formal signing following the conclusion of all technical discussions.
Key Sectors to Benefit
The agreement is expected to provide a boost to several Indian sectors, including textiles, food processing, engineering goods, automobiles, gems and jewellery and chemicals. Services such as information technology, healthcare, logistics and tourism are also expected to gain from improved access to the Omani market. From Oman’s perspective, the pact is likely to attract Indian investment into energy, infrastructure and manufacturing.
Strategic and Regional Significance
Oman is one of India’s key partners in the Gulf region and plays an important role in India’s engagement with West Asia. The agreement is expected to strengthen India’s trade presence in the region and support supply chain diversification. Officials said the pact will also help Indian companies use Oman as a gateway to markets in Africa and beyond.
Strengthening Long-Term Ties
The signing of the agreement coincides with a milestone year in India–Oman diplomatic relations and reflects growing strategic trust between the two countries. Both governments have expressed confidence that the agreement will lead to sustained growth in bilateral trade and closer economic integration.
