World Trade Centre (WTC) Mumbai has welcomed the signing of the historic Comprehensive Economic Partnership Agreement (CEPA) between India and Oman, describing it as a significant milestone in strengthening India’s economic engagement with the Gulf Cooperation Council (GCC) region. The agreement was signed in Muscat during the official visit of Hon’ble Prime Minister Shri Narendra Modi, ushering in a new phase of enhanced bilateral trade, investment, and services cooperation.
WTC Mumbai noted that the India-Oman CEPA is expected to unlock wide-ranging opportunities for Indian exporters, with particular benefits for labour-intensive industries and micro, small, and medium enterprises (MSMEs). By ensuring zero-duty market access for more than 99 percent of Indian exports to Oman, the agreement significantly improves the competitiveness of Indian products across key sectors such as textiles, gems and jewellery, engineering goods, pharmaceuticals, and manufacturing.
Commenting on the development, Dr. Vijay Kalantri, Chairman of World Trade Centre Mumbai and President of the All India Association of Industries, stated that the CEPA represents a force multiplier for India’s manufacturing and services ecosystem. He emphasised that Oman’s strategic geographic location makes it an important gateway for Indian companies seeking to expand into wider GCC markets, as well as Africa and the Middle East. According to WTC Mumbai, this strategic advantage will enable Indian businesses to diversify markets and strengthen global value chain integration.
Beyond trade in goods, the agreement places strong emphasis on the liberalisation of services and facilitation of professional mobility. This is expected to open new avenues for Indian service providers and skilled professionals to contribute to Oman’s economic growth, while also strengthening people-to-people ties between the two nations. WTC Mumbai highlighted that such provisions would enhance collaboration in sectors such as finance, logistics, healthcare, education, and other knowledge-based industries.
The CEPA eliminates duties on 98.08 percent of Oman’s tariff lines and offers 100 percent foreign direct investment (FDI) commitment for Indian companies in major service sectors. This is expected to provide immediate relief and long-term competitiveness to labour-intensive sectors, engineering, manufacturing, services, and investment-driven industries.
WTC Mumbai also observed that the agreement holds strategic importance as Oman’s first bilateral trade agreement since 2006 and India’s second free trade agreement in the last six months. This reflects India’s growing commitment to deeper integration with global markets and its proactive approach to strengthening international trade partnerships. The institution expressed confidence that the CEPA would propel bilateral trade to new heights in the coming years, fostering sustainable growth and economic cooperation between India and Oman.
