FTA with Oman almost finalised: Indian Minister
Published: 07:07 AM,Jul 27,2025 | EDITED : 01:07 PM,Jul 27,2025
India’s trade talks are in a “very advanced” stage with the US, Oman, and the European Union, the country's Commerce and Industry Minister Piyush Goyal said on Saturday.
Addressing reporters on Saturday, the minister said that the FTA with Oman is “almost finalised”, while negotiations with the EU and the US are “making fast progress”.
According to details on the Indian Embassy website, Indian The economic and commercial relations between India and Oman are robust and buoyant.
Bilateral trade during FY 2023-24 reached US$8.947 billion and and for the FY 2024-25
reached US$10.613 billion. Investment flows, both ways, have been robust, as reflected in
Numerous joint ventures have been established both in India and Oman.
There are over 6,000 India-Oman joint ventures in Oman with an estimated investment of over US$776 million.
Indian companies are investors in Oman, particularly at Sohar and Salalah Free Zones. The cumulative FDI equity inflow from Oman to India during April 2000 to March 2025 is US$605.57 million.
Oman is India’s 28th largest trading partner in FY 2024-2025, with total trade of US$10.61
billion, while India is Oman's third-largest non-oil export partner and fourth-largest in terms of imports.
The main items of India’s exports to Oman during the calendar year 2024 were light oils
and preparations; Aluminium oxide other than artificial corundum; Rice; Boilers, machinery
and mechanical appliances, parts thereof; Aeroplanes and Other aircraft and spacecraft;
Electrical machinery and equipment and parts thereof; Other beauty / make up preparations;
Plastic and articles thereof; Iron and Steel; Ceramic products, etc.
The main s of India’s imports from Oman during the calendar year 2024 were
Petroleum oil crude; Liquefied Natural Gas; Urea, including fertilizer grade; Organic chemicals;
Anhydrous ammonia; Sulphur, Earth and Stone, Plastering Materials, Lime; Plastic in
primary forms.