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Informist, Thursday, Dec. 18, 2025

 

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--India, Oman sign Free Trade Agreement 
--Govt:India gets duty-free mkt access on 98% tariff lines to Oman under FTA
--Govt: India-Oman FTA covers 99.38% of India's export value to Oman 
--Govt: Oman offers immediate duty cut on 97.96% tariff lines in India FTA 
--Govt:India to give tariff liberalisation on 77.8% tariff lines in Oman FTA 
--Govt: India's tariff cut under Oman FTA covers 94.81% of India's imports 
--Govt: India to give quota-based duty cut for sensitive sectors in Oman FTA 
--Govt:No concession by India on gold, silver bullion, jewellery in Oman FTA 
--Govt: No duty cut by India on farm, dairy pdts under Oman FTA 
--Govt: India-Oman FTA to also address persisting non-tariff barriers 
--Govt: India commits 100?I by cos in Oman's major svcs sectors under FTA 
--Govt:Oman FTA to offer enhanced mobility framework to Indian professionals 
--Govt: India-Oman FTA likely to be effective by March 
--Govt: India, Oman to undertake review of FTA after 3 years 
--Govt: India's exports to Oman may cross $6 bln within 2 yrs of FTA

 

NEW DELHI – After over two years of negotiations, India and Oman Thursday signed a Free Trade Agreement, giving New Delhi duty-free access to 99.38% of exports to the West Asian nation. Commerce Minister Piyush Goyal and his Omani counterpart Qais Mohammed Al Yousef signed the deal during Prime Minister Narendra Modi's visit to Muscat.

 

Oman has offered duty-free access to Indian goods on 98.08% tariff lines under the trade deal, the commerce ministry said in a press release. India's exports to Oman were $4.41 billion in 2024-25 (Apr-Mar). Among the designated duty-free tariff lines, Muscat has offered immediate access to Indian goods for 97.96% of product lines. 

 

New Delhi, on the other hand, has offered tariff liberalisation on 77.79% tariff lines under the trade agreement. These tariff lines account for 94.81% of Oman's imports by value, the commerce ministry said. India had imported goods worth $6.55 billion from Oman in FY25.

 

"For the products of export interest to Oman and which are sensitive to India, the offer is mostly a tariff-rate quota-based tariff liberalisation," the ministry said. India has not offered any duty concessions in sensitive sectors such as agriculture, dairy, tea, coffee, rubber, and tobacco. India has also not granted duty-free access to gold and silver bullion, jewellery and labour-intensive products such as footwear, sports goods, and scrap of many base metals, the ministry said.

 

According to an early assessment, India's exports to Oman are likely to exceed $6 billion within two years of signing the trade deal, a commerce ministry spokesperson said. All concessions under the trade deal are likely to take effect by March, the official added. While both governments have most internal approvals to implement the agreement, Oman may need a little more time to complete the required procedure, the ministry official said. India's Union Cabinet and Oman's Shura Council, its Lower House, have already approved the agreement.

 

Under the trade pact, New Delhi has also committed 100% foreign direct investment by Indian companies in Oman's major services sectors through commercial presence. "In addition, both sides have agreed to hold future discussions on social security coordination once Oman's contributory social security system is implemented," the ministry said in its release.

 

Muscat has offered an enhanced mobility framework for Indian professionals under the free trade agreement. Under the deal, Oman has offered to increase the quota for intra-corporate transferees to 50% from 20%, and to extend the permitted duration of stay for contractual service suppliers to two years from the existing 90 days, further extendable by two more years. "The agreement also provides for more liberal entry and stay conditions for skilled professionals in key sectors such as accountancy, taxation, architecture, medical and allied services, supporting deeper and more seamless professional engagement," the release said.

 

The provisions in the deal will also address non-tariff barriers that may persist despite tariff concessions. Both sides will review provisions of the trade agreement every three years, the ministry spokesperson said.  End

 

US$1 = INR 90.24

 

Reported by Krity Ambey

Edited by Saji George Titus

 

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