The free trade agreement (FTA) between India and Oman, which was signed in December 2025, is expected to be implemented on June 1, 2026, according to Union Commerce and Industry Minister Piyush Goyal, who made the announcement on Tuesday.
As a result of the deal, practically all of India’s exports to Oman, including textiles, agricultural products, and leather items, will be able to enter the country duty-free. This is projected to greatly increase bilateral commerce. In exchange, the Indian government will reduce duties on dates, marble, and petrochemical goods—exports that are vital to the Omani economy.
The news broke while a group of Omani officials were in India to discuss potential ways to boost trade and investment ties.
While both countries are making efforts to overcome gaps in economic size and structure, Goyal emphasised that trade talks with Chile have advanced.
The current preferential trade deal between India and Chile is being expanded into a Comprehensive Economic Partnership deal (CEPA) as talks between the two countries continue. The goal is to increase bilateral commerce and strengthen economic cooperation.
Among the many industries that could be encompassed by the proposed CEPA are digital services, investments, micro, small, and medium-sized enterprises (MSMEs), and essential minerals.
Having access to crucial minerals is becoming more and more vital in areas like electronics, autos, and solar energy, so India views Chile’s enormous lithium and copper reserves as strategically important.
Image Credit: Business Line
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