New Delhi [India], June 1 (ANI): The India-Oman Comprehensive Economic Partnership Agreement (CEPA) comes into force from today, marking a significant milestone in bilateral economic relations and providing Indian exporters with duty-free access across 98.08 per cent of Oman's tariff lines, covering 99.38 per cent of India's export value.

The trade pact is expected to boost merchandise exports from India by improving market access for key sectors including engineering goods, pharmaceuticals, agriculture and processed food products, marine products, textiles, chemicals, electronics, plastics, gems and jewellery.

Under the agreement, several Indian products will enjoy immediate duty-free access to the Omani market. These include natural honey, cashew, boneless meat, bakery products, chocolate and sugar confectionery, mineral water, cheese, curd, milk, cream, frozen fish and butter.

The CEPA is also expected to benefit India's exports of animal and vegetable fats and oils, which currently attract import duties ranging between 5 and 100 per cent in Oman. The agreement will further consolidate India's position in the Omani market, including in sectors such as egg exports, where duty-free access will strengthen competitiveness.

Beyond trade in goods, the agreement contains substantial commitments in services and mobility. It provides enhanced mobility provisions for Indian professionals, including temporary stay commitments for intra-corporate transferees, contractual service suppliers, business visitors and independent professionals.

The pact also liberalises entry and stay norms for professionals in sectors such as accountancy, taxation, architecture and healthcare. In a major investment-related commitment, Oman has agreed to provide 100 per cent foreign direct investment (FDI) access for Indian companies in key services sectors.

According to the provisions of the agreement, Oman has also made its first-ever commitment on traditional medicine in any trade pact. The deal further provides for faster marketing authorisations for pharmaceutical products already approved by major international regulators such as the US Food and Drug Administration (USFDA), the European Medicines Agency (EMA) and the UK Medicines and Healthcare Products Regulatory Agency (MHRA).

The CEPA is expected to generate gains for consumers and businesses in both countries. India has agreed to provide duty-free access for up to 2,000 tonnes of Omani dates annually, while concessions have also been extended to products such as Gum Arabic, used in food and medicines, frankincense used in the perfume industry, petrochemicals and marble blocks.

India and Oman have witnessed steady growth in bilateral trade over recent years. India imported USD 7.2 billion worth of goods from Oman in fiscal 2026, dominated by crude oil (USD 1.6 billion), liquefied natural gas (USD 1.2 billion), and fertilizers (USD 843 million).

The implementation of the CEPA is expected to further deepen economic engagement, enhance supply chain integration and create new opportunities for trade, investment and services cooperation between the two countries. (ANI)