India and Oman Discuss Trade Opportunities Amid Regional Challenges
Commerce Minister Goyal holds talks with his Omani counterpart on trade
Business Standard
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Piyush Goyal, India's Commerce and Industry Minister, met with Anwar bin Hilal bin Hamdoun Al Jabri, Oman’s Minister of Commerce, to enhance bilateral trade and investment. They discussed the Comprehensive Economic Partnership Agreement (CEPA), which aims to boost trade by providing duty-free access to a majority of exports from India to Oman.
- 01Piyush Goyal held talks with Anwar bin Hilal bin Hamdoun Al Jabri to enhance trade ties.
- 02The Comprehensive Economic Partnership Agreement (CEPA) aims to provide duty-free access to 98% of Indian exports to Oman.
- 03India-Oman bilateral trade reached approximately $10.5 billion in 2024-25.
- 04The ongoing conflict involving the US and Israel has disrupted shipping routes to the Gulf region.
- 05India's total trade with Gulf nations was about $178 billion in 2024-25.
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On Monday, Piyush Goyal (India's Commerce and Industry Minister) engaged in discussions with Anwar bin Hilal bin Hamdoun Al Jabri (Oman's Minister of Commerce, Industry, and Investment Promotion) to explore ways to enhance trade and investment between India and Oman. Goyal emphasized the importance of the Comprehensive Economic Partnership Agreement (CEPA), signed in December 2025 in Muscat, which aims to provide duty-free access for 98% of India's exports, including textiles, agricultural products, and leather goods, to Oman. In return, India will lower tariffs on Omani goods such as dates, marbles, and petrochemicals. The bilateral trade between India and Oman was valued at about $10.5 billion in 2024-25, with India exporting $4 billion and importing $6.54 billion. However, the recent joint military actions by the US and Israel against Iran have caused significant disruptions in shipping routes, impacting trade with the Gulf region where India had a total trade of $178 billion in the same period.
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The discussions aim to strengthen trade ties, potentially increasing market access for Indian exporters and benefiting Omani consumers through reduced tariffs on imports.
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