India Oman Ties

EAM Jaishankar, Omani FM discuss trade, investment, energy security

External Affairs Minister S Jaishankar on Sunday held wide-ranging discussions with his Omani counterpart Badr Albusaidi on bilateral cooperation in trade, investment and energy security. Jaishankar is in the Omani capital here to attend the 8th Indian Ocean Conference. "Delighted to meet FM @badralbusaidi of Oman this morning. Appreciate his personal efforts in successfully hosting the 8th Indian Ocean Conference," Jaishankar posted on X. "Held wide-ranging discussions on our cooperation in trade, investment and energy security," he said. The two leaders jointly released the logo celebrating the 70th anniversary of the diplomatic relations. They also jointly released a book titled Mandvi to Muscat: Indian Community and the Shared History of India and Oman'. Oman hosts a sizeable Indian community totalling approximately 664,783 individuals as of August 2024, according to the Government of Oman.

'India-Oman free trade agreement talks progressing at healthy pace'

The negotiations for a proposed Free Trade Agreement (FTA) between India and Oman are progressing at a healthy pace and the two sides will hold another round of talks to resolve the pending issues, an official said. The official said that issues pertaining to petrochemical products have been resolved. The negotiations received a much need impetus after the visit of Commerce and Industry Minister Piyush Goyal to Muscat last month. "One more round of negotiations on the Comprehensive Economic Partnership Agreement (CEPA) will happen," the official added. On January 27 in Muscat, trade ministers of India and Oman reviewed progress of the proposed agreement and focused on advancing the negotiations for the pact. The agreement was discussed between Goyal and Oman's Minister of Commerce, Industry and Investment Promotion Qais bin Mohammed Al Yousef. On January 14, India and Oman held the fifth round of talks for the agreement, aiming to boost bilateral economic ties. The negotiations

India, Oman agree to amend tax treaty to promote greater cooperation

DTAA is signed between nations to avoid double taxation and prevent fiscal evasion as far as taxes on income is concerned

India, Oman trade ministers discuss advancing FTA negotiations pact

Trade ministers of India and Oman on Monday reviewed progress of the proposed free trade agreement (FTA) between the two countries and focused on advancing the negotiations for the pact. The agreement was discussed between Commerce and Industry Minister Piyush Goyal and Oman's Minister of Commerce, Industry and Investment Promotion Qais bin Mohammed Al Yousef in Muscat. "Our talks focused on advancing negotiations on the Comprehensive Economic Partnership Agreement (CEPA), strengthening trade and investment ties, and exploring avenues to further deepen our bilateral partnership," Goyal said on X. Goyal is in Muscat for the Joint Commission Meeting, which will be held on January 28. On January 14, India and Oman held the fifth round of talks for the agreement, aiming to boost bilateral economic ties. The negotiations for the agreement, officially dubbed CEPA, formally began in November 2023. In such agreements, two trading partners either significantly reduce or eliminate customs

Piyush Goyal to visit Oman to push forward India-Oman FTA discussions

The formal commencement of the India-Oman FTA negotiations began in November 2023. The negotiations on the text of most chapters were concluded by India and Oman by January 2024

India not seeking duty concessions on liquor, cigarette in FTA with Oman

India is not seeking customs duty concessions on over 100 product categories such as liquor, and cigarette in the proposed free trade agreement (FTA), which is under negotiations between the two countries, sources said. They also said that though the FTA negotiations were concluded, Oman has sought revision of its market access offers on some products. The two sides have discussed three to four issues flagged by Oman, and any potential changes would be minimal, they said. India is expected to gain greater market access for about 98 per cent of its goods in Oman, along with significant access to the services sector. "There could be about 125-130 tariff lines (or product categories), where we have not asked for duty concessions and that included goods like liquor, and cigarettes," they added. On January 14, India and Oman held the fifth round of talks for the agreement, which is aimed at boosting bilateral economic ties. The negotiations for the agreement, officially dubbed as ...

India, Oman looking at finalising comprehensive trade, investment deal soon

India and Oman are looking at sealing a broad trade and investment pact this year that will cut tariffs on each other's goods and boost the overall trade basket in line with renewed vigour in the relations, especially in the economic sphere. The negotiations for a comprehensive economic partnership agreement (CEPA) gained new momentum after Oman's Sultan Haitham bin Tarik travelled to India over a year back. Omani Commerce Minister Qais bin Mohammad Al-Yousef told PTI that Muscat is hopeful of concluding the ambitious trade pact with India this year, which is expected to significantly expand the two-way trade and investment ties between the two countries. There has been a major upswing in economic ties between the two countries in the last few years with India emerging as one of the top trading partners of Oman. India was the fourth largest market for Oman's crude oil exports for the year 2023 after South Korea. India was also the third largest market for Oman's non-oil exports in

India, Oman hold fifth round of talks for proposed free trade agreement

India and Oman are holding the fifth round of talks for a proposed free trade agreement here to boost bilateral economic ties, an official said on Tuesday. The two-day talks started on January 13, the official said. The negotiations for the agreement, officially dubbed as Comprehensive Economic Partnership Agreement (CEPA), formally began in November 2023. Oman is the third largest export destination among the Gulf Cooperation Council (GCC) countries. According to the think tank GTRI (Global Trade Research Institute), Indian goods worth USD 3.7 billion like gasoline, iron and steel, electronics, and machinery will get a significant boost in Oman, once both sides reach a comprehensive free trade agreement. Currently, over 80 per cent of its goods enter Oman at an average of 5 per cent import duties, a GTRI report has said. Oman's import duty ranges from 0 to 100 per cent, along with the existence of specific duties. A duty of 100 per cent is applicable on specific meats, wines and

India to continue working together with Oman in tourism sector, says min

He added that Oman is particularly well-known in the Indian market as a popular wedding destination

India's FTA with Oman hits deadlock over revision in market access offer

Government officials said that the negotiations were completed earlier in March and revising India's offer would mean restarting inter-ministerial consultations to firm up India's revised stance

Indian tourists flocking to Oman, arrivals up 70% at 600k: Al Busaidi

Oman has emerged as a favourite destination for Indian tourists, with their number rising to more than 6 lakh last year, an increase of 70 per cent over the previous year, according to Azzan Qassim Al Busaidi, Undersecretary of the Oman Ministry of Heritage and Tourism. We hope to surpass the number this year, Al Busaidi told PTI in Mumbai on Thursday. The closeness and proximity between Oman and India makes one feel almost at home, he added. This momentum shows no signs of slowing, with the first five months of 2024 already seeing a 15 per cent increase in arrivals, he said. India is Oman's largest tourism market beyond the Gulf Co-operation Council countries, he said. Of the 40 lakh tourists who visited Oman last year, 6.25 lakh were from India, Al Busaidi said. Adventure tourism is a growing segment for tourists in Oman, he said. Tourism is one of the five focus areas for Oman as a part of its Vision 2040 plan, he added. We are now seeing more diversity in segments of ...

India, EU discuss CBAM concerns ahead of eighth round of FTA talks

Oman is seeking duty concessions on petrochemical products such as polypropylene and polyethylene, used primarily in the plastics industry

India may sign FTA with Oman in first 100 days of PM Modi's third term

This free trade agreement with Oman will mark the first significant bilateral deal of Modi's third term as Prime Minister of India

India closes in on trade deal with Oman as Mideast ties strengthen

The two sides started talks on the trade pact just three months ago, and their haste in completing the deal shows Prime Minister Modi's determination in building stronger links with the Middle East

India-Oman to begin next round of free trade discussions from Jan 16

The next round of talks for the proposed free trade agreement (FTA) between India and Oman will start from January 16 and the negotiations for the pact are progressing well, a senior official said on Tuesday. The talks on the text of most of the chapters have been concluded by both sides for the pact, officially dubbed the Comprehensive Economic Partnership Agreement (CEPA). "The negotiations are progressing well. Two rounds of in-person negotiations and many inter-sessional meetings have already been held. Good progress has been made on all the chapters covered under the CEPA," the official said. On certain media reports that the talks may get delayed, the official said that any talk of hindrances or bottlenecks is "speculative and presumptuous" as the negotiating process is currently underway. Currently, both sides are working towards conclusion of the negotiations with an objective of delivering a mutually beneficial agreement contributing to the welfare and development of the .

Duty concessions on petrochemical products key in India-Oman FTA talks

Customs duty concession demand on petrochemical products such as polypropylene and polyethylene, used primarily in the plastics industry, may act as a sticking point in the early conclusion of talks for the proposed free-trade agreement (FTA) between India and Oman, according to an official. Negotiations for the pact, officially dubbed the Comprehensive Economic Partnership Agreement (CEPA), are in the last phase. Certain domestic players from both public and private sectors are opposing duty concessions on these products under the agreement. They are claiming that Oman provides huge subsidies to its industry on raw materials for the production of these petrochemical products. According to them, if India would give duty concessions on these already subsidised products, it would be a double advantage for Omani firms. The government official said that they are holding talks with domestic players on the issue. Officials of the two countries concluded the second round of talks for th

India, Oman free trade agreement likely to be inked next month: Official

The negotiations for the proposed free trade agreement (FTA) between India and Oman are moving at a fast pace and the pact is likely to be signed next month, a senior government official said. Officials of the two countries concluded the second round of talks for the pact, officially dubbed as Comprehensive Economic Partnership Agreement (CEPA) earlier this month in Muscat. "With Oman, there is a very good progress and both sides are very eager to conclude this deal. It may be signed in January 2024," the official said. The negotiations on the text of most of the chapters have been concluded by both sides. Oman is India's third-largest export destination among the Gulf Cooperation Council (GCC) countries. The pact would help increase exports from India post the free trade agreement, as currently over 80 per cent of its goods enter Oman at an average 5 per cent import duties, and there are not many trade barriers. According to think tank GTRI's (Global Trade Research Initiative) ..

President Murmu hosts Oman Sultan Haitham bin Tarik at Rashtrapati Bhavan

PM Modi and President Droupadi Murmu received the Sultan at the Rashtrapati Bhawan. Sultan Haitham bin Tarik then inspected a Guard of Honour by the combined defence services

India, Oman discussing utilisation of UPI stack, possibility of rupee trade

Kwatra underscored the significance of Oman's successful participation as a special guest country in the G20 during India's presidency, particularly at the G20 summit in September

India, Oman adopt vision document to expand bilateral cooperation

Earlier in the day, Prime Minister Narendra Modi held delegation-level talks with the Sultan of Oman, Haitham bin Tarik, at Hyderabad House in New Delhi