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Key Points

India and Oman are poised to sign a Free Trade Agreement within the next week according to Commerce Minister Piyush Goyal. The minister made this announcement while addressing the FICCI LEADS event in New Delhi, highlighting accelerated discussions. This agreement represents part of India's broader strategy to engage actively with trade partners worldwide. The government is simultaneously pursuing multiple other FTAs with countries including the European Union and Australia.

Key Points: India Oman FTA Expected Within Week Says Piyush Goyal

  • FTA negotiations between India and Oman concluded recently after starting in 2023
  • Agreement falls under Comprehensive Economic Partnership Agreement framework
  • Minister Goyal emphasizes India's active engagement with friendly trade partners
  • Multiple other FTAs with countries including EU and Australia are in progress
2 min read

India-Oman FTA may happen in a week: Piyush Goyal

Commerce Minister Piyush Goyal announces India-Oman Free Trade Agreement likely finalized within a week to boost bilateral trade and economic partnership.

"Oman and India are talking on an FTA, and it may happen in a week - Piyush Goyal"

New Delhi, September 10

In a week's time, chances are high that India and Oman will ink a Free Trade Agreement (FTA) to boost trade and commerce between both countries, Minister of Commerce Piyush Goyal said on Wednesday.

"Oman and India are talking on an FTA, and it may happen in a week," he said while addressing the 'FICCI LEADS' event in New Delhi, adding that efforts will be made to expedite the discussion.

The FTA would be under the Comprehensive Economic Partnership Agreement.

Negotiations for a comprehensive trade deal between India and Oman, which commenced in 2023, have been concluded recently.

"India wants to be a part of the developed world. We want to work with friendly countries," he said, adding that India wants to engage actively with its trade partners.

In the event, he said that "we have aligned interests and we can truly create partnerships."

Goyal informed that more FTAs with other countries are also in the offing, and it will take some time.

A meeting with the EU Commissioner is scheduled today on different FTAs, the minister added.

India's trade deal negotiations gained momentum this week with multiple bilateral engagements underway, including fresh rounds with the European Union (EU).

India has, over the past five years, inked several trade deals, including the India-Mauritius Comprehensive Economic Cooperation and Partnership Agreement (CECPA) implemented in 2021, the India-UAE Comprehensive Economic Partnership Agreement (CEPA) and the India-Australia Economic Cooperation and Trade Agreement (ECTA) in 2022, the India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA) in 2024, and the India-UK Comprehensive Economic and Trade Agreement (CETA) signed in 2025, which is yet to come into force.

The India-European Union Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA) is expected to be implemented later this year once all parties complete their ratification processes.

Meanwhile, India is in talks for several other agreements, including the India-EU FTA, India-Australia Comprehensive Economic Cooperation Agreement (CECA), India-Sri Lanka Economic and Technology Cooperation Agreement, India-Peru FTA, India-Chile CEPA, India-New Zealand FTA, and a bilateral trade agreement with the United States.

- ANI

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Reader Comments

P
Priya S
Hope this agreement benefits small businesses too, not just big corporations. Many Indian SMEs could really use better access to Omani markets. Fingers crossed! 🤞
M
Michael C
As someone working in international trade, I appreciate how quickly India is moving on these agreements. The pace of negotiations has really picked up in recent years.
A
Ananya R
Wonderful! Many Indians work in Oman and this should strengthen people-to-people ties as well. Hope it leads to better protection for Indian workers there too.
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Sarah B
While FTAs are good, I hope the government ensures proper safeguards for our domestic industries. Sometimes these agreements can hurt local manufacturers if not negotiated carefully.
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Vikram M
India's FTA strategy is really paying off. From UAE to Australia and now Oman - we're building strong economic partnerships across the world. Make in India getting global recognition! 💪

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