Free trade pact between India, Oman to boost market access for Indian goods: GTRI
The Global Trade Research Initiative (GTRI) has said that the free trade pact between India and Oman, expected to be signed on December 18, 2025. This will provide greater market access to Indian products such as petroleum, machinery, rice, iron and steel articles. GTRI stated currently, more than 80 per cent of Indian goods enter Oman at an average tariff of around 5 per cent, but duties vary widely from zero to as high as 100 per cent on select products such as certain meats, alcohol and tobacco.
GTRI Founder Ajay Srivastava said removing tariffs under the CEPA (comprehensive economic partnership agreement) is expected to improve competitiveness for Indian industrial exports, but long-term growth will depend on quality upgrades and product differentiation in Oman's relatively small market. He said for India, the main gains lie in merchandise exports.
GTRI said India's exports to Oman stood at $4.1 billion in FY25, led by naphtha ($747.6 million) and petrol ($561 million), alongside calcined alumina ($313 million), machinery ($231 million), aircraft ($165 million), rice ($182 million), iron and steel articles ($120 million), beauty and personal care products ($128.6 million) and ceramic products ($79.9 million). Besides, it said India imported $6.6 billion worth of goods from Oman in FY25, dominated by crude oil ($1.1 billion), liquefied natural gas ($1.1 billion) and fertilisers ($1.1 billion).
