NEW DELHI, May 31 (HS):The Comprehensive Economic Partnership Agreement (CEPA) between India and Oman is set to come into force on June 1. Both countries are expected to make a formal announcement regarding the implementation of the agreement on Monday. The pact is expected to create greater opportunities for Indian goods and services in the Omani market while further strengthening bilateral trade and economic relations.

The India-Oman Comprehensive Economic Partnership Agreement (CEPA) was signed in December last year. Under the agreement, Oman will provide nearly complete duty-free access to approximately 99 per cent of India's export value. Earlier this month, while addressing an event, India's Commerce and Industry Minister Piyush Goyal stated that the free trade agreement between India and Oman would become effective from June 1. He noted that India aims to achieve exports worth USD 2 trillion over the next five years under the framework of the agreement.

Goyal also said that several other Free Trade Agreements (FTAs) with different countries are expected to come into force soon, with the process of legal ratification currently underway.

Since 2014, India has implemented four major trade agreements. These include the trade agreement with Mauritius, which came into effect in April 2021; the agreement with Australia, implemented in December 2022; the pact with United Arab Emirates, which became operational in May 2022; and the agreement with Switzerland, Iceland, Liechtenstein and Norway, which came into force in October 2025.

In addition, India has also signed trade agreements with the United Kingdom and New Zealand, further expanding its network of international economic partnerships.

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Hindusthan Samachar / Jun Sarkar