‘Commerce Was a Way of Life’: Piyush Goyal on India-Oman CEPA and 5,000 Years of Trade Ties

Commerce and Industry Minister Piyush Goyal described commerce as a “way of life” linking India and Oman for over five millennia while addressing a gathering following the conclusion of India-Oman CEPA negotiations in Muscat.

“The sea doesn't ask where you come from; it asks where you're going. It simply carries you forward. India and Oman have been carried by the Arabian Sea for over 5,000 years now. Commerce was a way of life. Today, we have formalised that way of life between India and Oman.”

The India-Oman Comprehensive Economic Partnership Agreement (CEPA), which has entered into force, formalises the historic trading relationship between the two countries and is expected to provide additional momentum to bilateral economic engagement.

Calling the agreement “not simply a trade agreement but a statement of civilisational trust,” the Minister expressed confidence that the pact would open a new phase of economic cooperation between India and Oman.

Under the agreement, India will receive duty-free access on 98 per cent of Oman’s tariff lines, covering more than 99 per cent of India’s exports to the Gulf nation.

“I am happy to note that more than ten consignments from different parts of India have already been shipped to Oman availing preferential duty access,” Goyal said.

The Minister noted that Indian exporters and businesses operating in sectors including textiles, sportswear, gems and jewellery, pharmaceuticals, medical devices, engineering goods, agricultural products, meat, plastics, automobiles and marine products would benefit from preferential market access in Oman.

Key Outcomes of the Agreement

Goyal highlighted four major outcomes of the CEPA.

According to the Minister, Oman has agreed to remove its decade-old export ban on marble blocks. The measure is expected to allow craftsmen in Rajasthan and Andhra Pradesh direct access to the raw material.

He also stated that Indian generic medicines approved by the US Food and Drug Administration (FDA), European Medicines Agency (EMA), or the UK Medicines and Healthcare products Regulatory Agency (MHRA) will now receive market authorisation in Oman within 90 days.

For labour-related provisions, India has secured commitments concerning the protection of Indian workers employed in non-service sectors and in majority Indian-owned enterprises operating in Oman.

The Minister further said Oman would recognise India’s National Programme for Organic Production (NPOP) certification, enabling greater market access for Indian organic products.

Both countries will also work toward a Mutual Recognition Agreement for halal certification.