India–Oman Trade Pact to Kick In from June 1: What CEPA Means for Trade, Jobs, and Markets India and Oman will implement their Comprehensive Economic Partnership Agreement (CEPA) on June 1, 2026, marking a significant step in bilateral economic cooperation. The agreement, which will grant wider market access and boost trade, services, and investments, is expected to strengthen India’s presence in the Gulf region while offering substantial benefits to key export sectors. The pact will be formally announced on Monday, May 31, 2026, and is the fifth free trade agreement (FTA) implemented under Prime Minister Narendra Modi’s government. Since 2014, India has finalized four trade pacts with Mauritius (April 2021), Australia (December 2022), the UAE (May 2022), and the European Free Trade Association (EFTA, October 2025). Additional agreements with the UK (July 2025) and New Zealand (April 2026) have also been concluded, with negotiations ongoing with the European Union. The CEPA differs from traditional FTAs in its scope, encompassing around 20 chapters covering trade in goods, services, investment, intellectual property rights, customs procedures, and dispute resolution mechanisms. While terms like Comprehensive Economic Cooperation Agreement (CECA), Comprehensive Economic Trade Agreement (CETA), and Economic Cooperation and Trade Agreement (ECTA) are often used interchangeably, the CEPA represents a more comprehensive framework. Bilateral trade between India and Oman reached USD 11.18 billion in 2025-26 (exports: USD 4.02 billion; imports: USD 7.16 billion), up from USD 10.61 billion in 2024-25. Services exports to Oman grew from USD 397 million in 2020 to USD 665 million in 2024, with telecommunications, computer and information services, transport, and travel being the top contributors.#india #oman #narendra_modi #gulf_cooperation_council #cepa
