Oman
and India Deepen Economic Ties, Focus on Implementation of Comprehensive
Partnership

Muscat,
17 Dec 2025 (ONA) — Qais bin Mohammed Al Yousef, Minister of Commerce,
Industry and Investment Promotion, held a meeting today with Piyush Goyal,
Minister of Commerce and Industry of the Republic of India, on the sidelines of
the Oman-India Business Dialogue.

The
discussions focused on elevating economic and commercial cooperation between
the two countries to a more advanced stage, characterized by strategic partnerships,
high-value investments and collaborative projects.

Both
sides affirmed the competitiveness and readiness of Oman’s investment
environment, underscoring the attractive incentives and integrated services
offered within the Sultanate of Oman’s special economic zones. This framework
is designed to position Oman as a premier investment destination and aligns
with national objectives for economic diversification and expanded
international collaboration.

The
two sides commended the concerted efforts that led to the finalization of the
Oman-India Comprehensive Economic Partnership Agreement (CEPA). They stressed
the critical importance of the upcoming implementation phase, agreeing on a
clear mechanism for its ratification and execution, including defined
timelines. The significant role of the Oman-India Joint Committee in monitoring
the agreement’s progress post-signature was also highlighted.

The
meeting reviewed the progress of the Joint Committee’s work, noting the
one-year mark since its eleventh session. Preparations are now underway to
convene the twelfth session in India, with a specific focus on securing
tangible and measurable outcomes under the CEPA framework and its associated
investment initiatives.

The
meeting was attended by Ibtisam bint Ahmed Al Faroji, Undersecretary for
Investment Promotion at the Ministry of Commerce, Industry and Investment
Promotion and Pankaj Khimji, Advisor for Foreign Trade and International Cooperation
and Chairman of Oman Center for Strategic Partnerships and Foreign Trade at the
Ministry of Commerce, Industry and Investment Promotion.

The
discussions were underpinned by robust trade figures. Bilateral trade reached
approximately RO 1.049 billion in the first half of 2025, with India
maintaining its position as Oman’s third-largest trading partner as of June
2025. The cumulative trade growth from 2020 to 2024 stood at 63%, reflecting an
average annual growth rate of about 13%, a testament to the enduring strength
of the economic relationship.

India
ranked as the tenth-largest source of foreign direct investment (FDI) into
Oman, with a total inflow of RO 268.4 million by the end of the second quarter
of 2025.

Furthermore,
confidence in Oman’s business climate is evident, with 10,589 registered
companies featuring Indian shareholding as of September 2025. Both countries
share a mutual ambition to significantly expand industrial and productive
investments in the coming period.

—
Ends/Khalid