India and Oman have forged a Comprehensive Economic Partnership Agreement (CEPA) aimed at enhancing bilateral trade, particularly in green energy and agri-innovation startups.
Industry leaders, including CII Director General Chandrajit Banerjee, commend the CEPA as a pivotal development that strengthens India’s economic ties with Oman, reflecting a proactive trade strategy that fosters mutually beneficial partnerships and supports export growth and investment-led development.
The CEPA is expected to enhance Indian industry’s access to the Omani market, facilitating trade while creating frameworks for services, investment, and technology collaboration. With Oman as India’s third-largest export destination in the GCC, bilateral trade reaching $10.6 billion for 2024-25, the agreement promises substantial duty-free access for Indian goods, boosting trade in energy, minerals, technology, and agriculture.
Mahindra Group CEO Anish Shah highlighted that CEPA will further strengthen collaboration in digital transformation and clean energy through initiatives like Tech Mahindra’s development center in Muscat.
Prime Minister Narendra Modi hailed the CEPA as a “blueprint of our shared future,” noting a significant increase in Indian investments in Oman since 2020, spanning various sectors including green steel and logistics. The CEPA aligns with India’s broader strategy of leveraging free trade agreements to benefit farmers, traders, and exporters.
Source – sarkaritel.com
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