India-Oman CEPA takes effect: 98% duty-free access opens doors for textiles, pharma, MSMEs: Piyush Goyal

"The Comprehensive Economic Partnership Agreement will add new momentum to India's ties with Oman," Goyal said adding that it positions Oman as a gateway to the wider Gulf, Asia and Africa.

"From today, India will secure duty-free access on 98% of Oman's tariff lines, covering over 99% of India's exports to Oman," Goyal said. "As we speak more than 10 consignments are being shipped availing preferential duty access in Oman from different parts of India."

Goyal noted that, as PM Narendra Modi had said in Muscat, the CEPA is the blueprint of our shared future, and that blueprint is already taking shape.

Oman, he said, is more than a market is a gateway to the wider Gulf Cooperation Council GCC countries of the Middle East and East Africa and the Indian Ocean economy through its ports at Sohar, Duqm and Salalah.

"We are also looking forward to welcoming products from Oman, which are required in the Indian ecosystem and which will benefit our consumers, our business," Goyal said noting that dates from Oman are considered "very special" and the "best in the world."

The Union Minister said workers, MSMEs and exporters in sectors like textiles, sportswear, gem and jewellery, pharma, medical devices, engineering, sports goods, agri products, meat, leather, plastics, automobiles and marine products will now "step onto a preferential access against our competitors in Omani Market."

Oman has also committed to lifting its decades-old ban on exporting unpolished marble, allowing craftsmen in Rajasthan and Andhra Pradesh to source raw material directly.

Beyond trade in goods, the agreement contains substantial commitments in services and mobility. It provides enhanced mobility provisions for Indian professionals, including temporary stay commitments for intra-corporate transferees, contractual service suppliers, business visitors and independent professionals.

For healthcare, Goyal highlighted a fast-track approval route: "Indian generic medicines approved by the USFDA, EMA, or UK MHRA will now receive marketing authorization in Oman within 90 days, meaning Omani patients get affordable Indian medicines faster."

The CEPA is part of India's broader trade push. Goyal noted it is "part of India's nine free trade agreements finalized in the last three and a half years, which cover 38 developed nations" and secure preferential access for goods and services across nearly two-thirds of global trade. The government's export target is "Two trillion of exports five years from now."

India and Oman have witnessed steady growth in bilateral trade over recent years. India imported USD 7.2 billion worth of goods from Oman in the fiscal year 2026, dominated by crude oil (USD 1.6 billion), liquefied natural gas (USD 1.2 billion), and fertilizers (USD 843 million).

To get there, negotiations are underway with Israel, Chile, Canada and the six-nation GCC bloc. "Oman is a gateway for many other markets including the Gulf, Asia and Africa," Goyal said.

"I do believe that every agreement stands on its own feet, but since there's a lot of similarity in the Middle Eastern countries, I think this will certainly help in speeding up the negotiations with the GCC."

India has also launched talks with the Eurasian Group covering Russia and Central Asia, and has received expressions of interest from Mexico and Ecuador. (ANI)