India and Oman Forge New Economic Era with Comprehensive Trade Agreement
India and Oman have solidified economic ties with the signing of a Comprehensive Economic Partnership Agreement (CEPA), guided by India's Prime Minister Narendra Modi and Oman’s Sultan Haitham bin Tarik. This milestone agreement, signed by India's Commerce and Industry Minister Shri Piyush Goyal and Oman’s Minister of Commerce, Industry & Investment Promotion H.E. Qais bin Mohammed Al Yousef, unlocks significant export opportunities for India’s labor-intensive sectors such as textiles, agriculture, and pharmaceuticals. The CEPA provides India with zero-duty access on 98.08% of Oman’s tariff lines, covering 99.38% of India’s exports by value. It also opens new avenues for Indian service providers with substantial sectoral commitments from Oman and removes non-tariff barriers. Enhancing professional mobility, it marks the first wide-ranging Mode 4 commitments by Oman, supporting skilled Indian professionals in architecture, medical, and other fields. This agreement is expected to significantly boost bilateral trade, employment, and long-term economic ties between India and Oman.
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