India, Oman wrap up trade deal talks, signing date pending
What's the story
India and Oman have successfully concluded negotiations for a comprehensive trade deal, the Minister of State for Commerce and Industry, Jitin Prasada, announced in Rajya Sabha. The talks began in 2023 and are aimed at strengthening the long-standing strategic partnership between the two countries. However, no date has been given yet for when this Comprehensive Economic Partnership Agreement (CEPA) will be signed.
Diplomatic ties
Strategic partnership between India and Oman
The strategic partnership between India and Oman dates back to centuries of strong people-to-people ties. The bilateral trade and investment relationship has flourished since diplomatic relations were established in 1955, which was upgraded to a strategic partnership in 2008. The CEPA is expected to further strengthen these ties by promoting trade and investment between the two nations.
Trade expansion
India's recent free trade agreements
In the last five years, India has signed five major Free Trade Agreements (FTAs) and is working on several new ones. The FTAs include the India-Mauritius Comprehensive Economic Cooperation and Partnership Agreement (CECPA) implemented in 2021, and the India-UAE CEPA and the India-Australia Economic Cooperation and Trade Agreement (ECTA) signed in 2022. The India-European Free Trade Association (EFTA) TEPA was inked in 2024, while the India-UK CETA was signed in 2025 but is yet to come into force.
Ongoing negotiations
Other ongoing trade negotiations
The India-EFTA TEPA is expected to be implemented later this year after all parties complete their ratification processes. Apart from this, India is also negotiating several other agreements such as the India-Australia Comprehensive Economic Cooperation Agreement (CECA), the India-Sri Lanka Economic and Technology Cooperation Agreement, and FTAs with Peru, Chile, and New Zealand. A bilateral trade agreement with the US is also in the works.