India and Oman Edge Closer to Free Trade Agreement Amid Duty Concerns

India and Oman are negotiating a Comprehensive Economic Partnership Agreement (CEPA) to boost economic ties, with India seeking increased market access for its goods and services in Oman. Concerns remain over duty concessions, particularly in petrochemicals and products like liquor and cigarettes.

India is strategically navigating its Comprehensive Economic Partnership Agreement (CEPA) discussions with Oman, emphasizing greater market access for its goods and services while omitting duty concessions on specific products such as liquor and cigarettes.

The negotiations have reached their fifth round, with minimal yet pivotal revisions being proposed by Oman, focusing concerns on petrochemical imports due to favorable Omani feedstock costs.

Anticipated impacts for India include augmented exports of gasoline and electronics, with the aim of leveraging similar trade dynamics already established with the UAE, another GCC nation.

(With inputs from agencies.)