Oman

Best of BS Opinion: India must learn from China, support new entrants

Today's Best of BS Opinion looks at India's evolving trade strategy, rising tensions with Bangladesh, lessons from China's manufacturing boom, food loss challenges, and the impact of digital platforms

Best of BS Opinion: Sebi reforms to make things easier for investors

From Sebi's investor-friendly rule changes and PM Modi's West Asia tour to debates on power grid reform, shrimp exports and a Zomato biography, here's today's Best of BS Opinion.

India-Oman trade agreement opens the door to social security talks

In 2024, India's bilateral services trade with Oman stood at $863 million, with exports of $665 million and imports of $198 million, resulting in a surplus of $447 million for India

Explained: India-Oman trade agreement: Why the FTA matters

India and Oman have signed a major free trade agreement that gives Indian exports near-total duty-free access to Oman. From goods and services to jobs and geopolitics

India, Oman to explore local currency trade; discuss defence cooperation

The Omani side expressed interest in discussing air service traffic rights, including the number of destinations and code-sharing provisions

India-Oman CEPA to infuse new energy into bilateral trade, says PM Modi

In his address, Modi highlighted the centuries-old maritime trading ties between the two countries, from Mandvi to Muscat, which today form the bedrock of vibrant commercial exchanges

India-Oman free trade pact to give new energy to bilateral ties: PM Modi

Prime Minister Narendra Modi on Thursday said the Comprehensive Economic Partnership Agreement (CEPA) between India and Oman will give new confidence and energy to the bilateral relations. Speaking at the India-Oman Business Summit here, the visiting Prime Minister said the summit will give a new direction to the India-Oman partnership. "Today, we are taking such a historic decision, the echo of which will be heard for many decades to come. Comprehensive Economic Partnership Agreement that is, CEPA, will give our partnership new confidence and new energy in the 21st century," the prime minister said. He said India's nature has always been progressive and self-driven. Whenever India grows, it helps its friends grow as well, Modi said and added India is progressing towards becoming the world's third-largest economy. "This is beneficial for the entire world. However, it is even more beneficial for Oman because, in addition to being close friends, we are also maritime neighbours. Our

PM Modi departs for Oman from Ethiopia on last leg of three-nation visit

Prime Minister Narendra Modi on Wednesday left for Oman from Ethiopia on the last leg of his four-day, three-nation visit. During Modi's maiden visit to Ethiopia, the two countries elevated their historical ties to the level of 'Strategic Partnership'. He also held wide-ranging talks with his Ethiopian counterpart, Abiy Ahmed Ali, following which, the two leaders witnessed the exchange of various MoUs in various fields. Modi also addressed a joint session of the Ethiopian parliament. The prime minister was conferred Ethiopia's highest award - The Great Honour Nishan of Ethiopia. He is the first global head of state to receive this award. Modi is visiting Oman at the invitation of Sultan Haitham bin Tarik, with whom he will hold discussions on strengthening the Strategic Partnership as well as a strong commercial and economic relationship. The visit will mark 70 years of the establishment of diplomatic relations between the two countries, and follows the state visit of Sultan Tarik

India, Oman to sign free trade agreement on Thursday in Muscat

India and Oman will sign a free trade agreement on Thursday in Muscat with an aim to boost economic ties between the two countries, an official said. It will be signed in the presence of Prime Minister Narendra Modi, who is on a four-day, three-nation visit. He arrived in Ethiopia on Tuesday from Jordan and will depart for Oman from Addis Ababa. Commerce and Industry Minister Piyush Goyal has reached Muscat for the FTA signing. Commerce Secretary Rajesh Agrawal too will reach Oman, the official said. Talks for the free trade agreement, officially termed as CEPA (Comprehensive Economic Partnership Agreement), formally began in November 2023 and the negotiations concluded this year. In free trade agreements, the two trading partners either significantly reduce or eliminate customs duties on a maximum number of goods traded between them. They also ease norms to promote trade in services and attract investments. Oman is the third-largest export destination for India among the Gulf ...

Cabinet clears India-Oman CEPA ahead of PM Narendra Modi's Muscat visit

CEPA expected to boost bilateral trade beyond current $10.6 billion, with focus on petroleum, urea, and manufactured goods

India, Oman to ink free trade agreement during PM Narendra Modi visit

The Union Cabinet has cleared the India-Oman CEPA ahead of PM Narendra Modi's visits to Jordan, Ethiopia and Oman next week, with the tour set to focus on trade, investment and key regional issues

FTA talks with Oman, NZ in last leg, EU deal near closure: Piyush Goyal

Commerce Minister Piyush Goyal says several key trade pact negotiations are in their final stages

EAM Jaishankar, Omani counterpart discuss deepening bilateral cooperation

Last week, Defence Secretary Rajesh Kumar Singh and Oman's Secretary General of Defence, Mohammed Bin Naseer Bin Ali Al Zaabi, co-chaired the 13th Joint Military Cooperation Committee meeting

Oman's new cultural visa for creators, researchers: What conditions apply

Oman has rolled out a cultural visa for international artists, researchers, and creators, linking the initiative to Vision 2040

India, Oman set to ink CEPA trade pact soon as talks conclude: Oman's Envoy

India and Oman are set to sign the Comprehensive Economic Partnership Agreement (CEPA) "very soon" with both nations eyeing diversification of their trade basket to include more commodities and exchange of services, the country's Ambassador to India Issa Saleh Abdullah Saleh Alshibani said. In an interview to PTI, Oman's Ambassador to India said negotiations have concluded and currently the legislative and administrative processes are in motion. "Hopefully... we will reach a stage of signature very soon," he said in response to a question related to the expected timeline for signing of the agreement. Talks for the agreement, officially termed as CEPA, formally began in November 2023. In such agreements, two trading partners significantly reduce or eliminate customs duties on a maximum number of goods traded between them. They also ease norms to promote trade in services and attract investments. On the impact in terms of bilateral trade after signing of the CEPA, the Oman Ambassad

Jindal Steel International looks to buy Thyssenkrupp's German unit

thyssenkrupp AG confirmed that it has received a non-binding, indicative offer from Jindal Steel International for the purchase of thyssenkrupp Steel Europe

Oman to launch golden visa on August 31, following UAE and Saudi models

Oman will introduce its first golden visa scheme for investors on August 31, alongside business reforms and academic partnerships, following the model set by the UAE and Saudi Arabia

India, Oman free trade agreement likely to be announced soon, says official

The conclusion and signing of the proposed free trade agreement between India and Oman is expected to be announced soon, an official has said. The trade pact text is being translated into Arabic in Oman. After that, the cabinets of both countries will approve the agreement, according to the official. "Both countries have, in principle, decided to announce the conclusion and signing together," the official added. When asked if it would take two to three months, the official said: "Much less" than that. The talks for the agreement, officially termed the Comprehensive Economic Partnership Agreement (CEPA), formally began in November 2023. In such agreements, two trading partners either significantly reduce or eliminate customs duties on a maximum number of goods traded between them. They also ease norms to promote trade in services and attract investments. Oman is the third-largest export destination among the Gulf Cooperation Council (GCC) countries for India. India already has a

Jindal Steel Duqm to start Oman-based 5 MTPA green steel plant in 2028

Jindal Steel Duqm, a part of Naveen Jindal Group, aims to start operations at its upcoming 5 million tonnes per annum (MTPA) hydrogen-enabled green steel complex at the Special Economic Zone in Duqm (SEZAD) in Oman by 2028, a company executive said. The plant is being developed in two phases at a total investment of approximately USD 3 billion (around Rs 25,000 crore), the official said. Designed to be one of the world's most advanced hydrogen-ready steel facilities, it will initially run on natural gas but will be capable of switching to green hydrogen once the supply infrastructure matures. The complex will consist of two Direct Reduced Iron (DRI) modules of 2.5 MTPA each. While the first unit will be operationalized by December 2028, the second unit is scheduled for commissioning by 2030. Both DRI units are engineered to be hydrogen-ready from day one. According to a senior company executive, Jindal Steel Duqm has informed the Government of Oman that hydrogen will be injected in

Oman to become 1st Gulf state to levy income tax, aims to cut oil reliance

Oman will introduce a 5% income tax on top earners in 2028, aligning with Vision 2040 to diversify income, strengthen public finances, and reduce reliance on oil revenue