By
India signs India-Oman trade deal to counter US tariffs, boost exports
India on Thursday signed a Comprehensive Economic Partnership Agreement (CEPA) with Oman, stepping up its free trade push to cushion the impact of steep US import tariffs and rising global trade uncertainty.
The agreement, signed in Muscat in the presence of Prime Minister Narendra Modi and Oman’s Sultan Haitham bin Tarik, is India’s second free trade pact in six months, after the landmark deal with the United Kingdom in May.
Under the India-Oman CEPA, Indian goods will receive zero-duty access on over 98% of Oman’s tariff lines, boosting exports of engineering goods, textiles, leather, pharmaceuticals and agricultural products, the Commerce Ministry said. India, in return, has offered tariff concessions on nearly 78% of its tariff lines, covering about 95% of imports from Oman.
The pact comes as Indian exporters face pressure from 50% US tariffs, which have hit sectors such as textiles, auto components, metals and labour-intensive manufacturing. To diversify export markets, New Delhi has accelerated negotiations with the European Union, New Zealand, Chile and several other partners.
Free trade agreements have become a key pillar of India’s economic strategy, aimed at strengthening global supply chain integration, boosting exports and creating jobs. Officials said the recent deals underscore the need for faster negotiations and predictable trade frameworks amid tariff disputes and geopolitical tensions.
India currently has trade agreements covering 26 countries, with talks underway with more than 50 nations.
