India-Oman FTA to take effect from June 1, 2026
Business
India and Oman's new free trade agreement (FTA) is expected to come into force from June 1, 2026, opening the door for most Indian goods to enter Oman duty-free.
Commerce Minister Piyush Goyal said India continues to remain a bright spot amid global geopolitical and economic uncertainty.
Bilateral trade hit $10.61B in 2024-25
Signed last December, this FTA gives nearly all Indian exports duty-free access in Oman, while India will lower duties on most Omani imports.
The countries' trade hit $10.61 billion in 2024-25, up nearly 19%, and this agreement is set to boost that even further.
It also fits into India's bigger plan: after record exports of $863 billion in FY26, the goal is a massive $2 trillion within five years.