WTC Mumbai Welcomes India–Oman CEPA, Calls It a Game Changer for MSMEs and Exporters
The World Trade Centre (WTC) Mumbai has welcomed the signing of the landmark Comprehensive Economic Partnership Agreement (CEPA) between India and Oman, calling it a transformative step in strengthening India’s economic engagement with the Gulf Cooperation Council (GCC) region. The agreement was signed in Muscat during the official visit of Hon’ble Prime Minister Shri Narendra Modi, opening a new phase of trade, investment, and services collaboration between the two nations.
Industry leaders believe the CEPA will significantly enhance India’s export competitiveness, particularly for labour-intensive sectors and micro, small and medium enterprises (MSMEs). The pact grants zero-duty access to more than 99% of Indian exports, positioning Indian manufacturers and service providers more favourably in the Omani market and beyond.
Welcoming the development, Dr. Vijay Kalantri, Chairman, World Trade Centre Mumbai and President, All India Association of Industries, said,
“The India-Oman CEPA is a landmark milestone that will serve as a force multiplier for India’s manufacturing and services sectors. By securing zero-duty access for over 99% of Indian exports, the government has provided a substantial competitive edge to our MSMEs and exporters in textiles, gems & jewellery, engineering, and pharmaceuticals. Oman is not just a key trading partner but a strategic gateway for Indian businesses to access the wider markets of the GCC, Africa, and the Middle East.”
He further highlighted that the agreement extends well beyond merchandise trade.
“This agreement goes beyond trade in goods; it commits to the liberalization of service sectors and the facilitation of professional mobility, allowing Indian talent to contribute significantly to Oman’s development. We foresee bilateral trade surpassing its current trajectory to reach new heights in the coming years,” Dr. Kalantri added.
Under the CEPA, Oman has eliminated duties on 98.08% of its tariff lines, while India has secured full foreign direct investment (FDI) commitments for Indian companies across major service segments. The agreement is expected to deliver immediate gains in manufacturing, engineering, services, and investment-led sectors, strengthening India’s role in regional value chains.
The pact is also notable from a strategic standpoint. It marks Oman’s first bilateral trade agreement since 2006 and India’s second free trade agreement within six months, underlining India’s growing momentum toward deeper integration with global markets. WTC Mumbai believes the CEPA will play a pivotal role in driving MSME-led exports, boosting services trade, and reinforcing India’s economic footprint across the GCC and neighbouring regions.