India-Oman FTA: Positive Breakthrough Expected Soon, Says Minister Piyush Goyal

Muscat : India’s Minister of Commerce and Industry, Piyush Goyal, has expressed optimism regarding the ongoing negotiations for a Free Trade Agreement (FTA) between India and Oman, hinting at the possibility of a positive announcement in the near future.

Speaking to reporters in Muscat, the minister stated, “I think you will see some good news very soon on the Oman FTA,” when asked about the likelihood of concluding the talks this year.

The negotiations for the Comprehensive Economic Partnership Agreement (CEPA) officially commenced in November 2023. Once finalized, the agreement is expected to boost bilateral trade and investment between the two nations.

Oman holds strategic importance for India, being the third-largest export destination among the Gulf Cooperation Council (GCC) countries. The FTA is anticipated to further strengthen economic ties and open new avenues for cooperation in key sectors.