Oman-India CEPA to boost business opportunities

MUSCAT, DEC 17

A summit exploring Omani-Indian business opportunities was held on December 17, 2025 ahead of the expected signing of a Comprehensive Economic Partnership Agreement (CEPA) between the two nations. It was organised by the Oman Chamber of Commerce and Industry (OCCI), the Ministry of Commerce, Industry and Investment Promotion (MoCIIP), Invest Oman, Confederation of Indian Industry (CII) and Invest India.

Delivering the keynote address, Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, highlighted the significance of economic relations between the two nations: “India is a global economic force whose growth trajectory continues to shape regional and international markets. Oman engages with India fully aware of its scale, ambition and capabilities — and equally aware of what Oman itself brings to this partnership. Our relationship is not defined by size, but by complementarity. The ancient trade routes that once linked our ports remain relevant today, connecting India to the Gulf, East Africa and global markets through Oman’s logistics corridors, ports and industrial hubs”, he said.

Al Yousef added: “Bilateral trade reached more than $2.7 billion in the first half of 2025 alone, representing a 63 per cent increase since 2020, reflecting strong momentum and diversification". “India is now Oman’s third-largest trading partner, while Oman continues to serve as a reliable destination for Indian investments across strategic sectors. Indian investment in Oman has more than tripled since 2020, now reaching $5 billion. These investments span green steel, green ammonia, aluminium manufacturing and logistics — demonstrating confidence in Oman as a long-term operating base, not merely a market”, he said.

Significantly, Omani companies continue to expand their footprint in India, strengthening supply chains and connectivity between the two economies, Al Yousef pointed out. “I would also like to highlight the dedicated investment fund established with the Oman Investment Authority. These flows reflect something fundamental: confidence in systems, not just opportunities”.

Commenting on the upcoming Free Trade Agreement, also known as the Comprehensive Economic Partnership Agreement (CEPA), the Minister pointed out that while the agreement provides an important framework, its true value will be realised through implementation. “It is a tool to deepen investment, strengthen supply chains and enable joint growth — not only in trade, but also in production, innovation and regional integration. I invite business leaders from both Oman and India to explore its benefits and take full advantage of this agreement”.

In his opening remarks, Indian Minister of Commerce and Industry Piyush Goyal described the agreement as a historic milestone in bilateral relations, noting that it will be the first free trade agreement Oman signs with a country in 17 years. He said the agreement opens wide-ranging opportunities across sectors including textiles, footwear, automobiles, gems and jewellery, agrochemicals, renewable energy and auto components, positioning Oman as a gateway to the GCC, Eastern Europe, Central Asia and Africa.

Goyal also highlighted strong potential for collaboration in services such as professional services, accounting, business processes, research and development, tourism, healthcare and education, noting that tourism in particular holds significant scope for growth. Looking ahead, he identified four priority areas for future cooperation: energy transition — including renewables, battery storage, green hydrogen and ammonia — infrastructure and multimodal logistics, food security and startups and technology, including artificial intelligence.

The summit included two investment presentations, one held by Invest Oman and another by Invest India. This was followed by two panel discussions: one addressing ‘Expanding Oman–India Trade Relations’ and another on ‘Advancing Oman–India Investment Partnership’. The event concluded with a networking lunch. The Free Trade Agreement between the two nations is expected to be signed with the arrival of Indian Prime Minister Narendra Modi to the Sultanate of Oman.