Muscat, December 18:
The India-Oman Free Trade Agreement (FTA), expected to be signed during Prime Minister Narendra Modi’s visit, is projected to provide a significant boost to industrial exports from India, including automobiles, textiles, and engineering goods. Experts believe the agreement will reduce tariffs, streamline customs procedures, and enhance market access for Indian manufacturers, strengthening bilateral trade relations between the two countries.
Current trade volumes between India and Oman have shown steady growth, with India exporting machinery, chemicals, and textiles, while Oman exports oil, metals, and fertilizers to India. Analysts expect that the FTA will not only increase the value and diversity of Indian industrial exports but also encourage joint ventures, technology transfer, and long-term investment partnerships, further deepening economic engagement in the Gulf region.
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