Brochure of Conference

India and Oman share a long history of maritime trade, commercial exchange and people-to-people contacts. Formal diplomatic relations were established in 1955, and 2025 marked the 70th anniversary of these relations. Over the decades, the partnership has evolved into a Strategic Partnership encompassing trade and investment, energy, defence and maritime security, technology, education, agriculture, culture and people-to-people ties.

Prime Minister Narendra Modi’s official visit to Oman in December 2025, following the visit of His Majesty Sultan Haitham bin Tarik to India in December 2023, reaffirmed the breadth and strategic depth of bilateral cooperation and provided an opportunity to review progress across key economic, strategic and people-to-people areas.

The economic relationship has grown significantly in recent years. Bilateral merchandise trade increased from US$8.95 billion in FY2023–24 to US$10.61 billion in FY2024–25 and US$11.19 billion in FY2025–26. In FY2025–26, India’s exports to Oman stood at about US$4.02 billion, while imports were US$7.17 billion, resulting in a trade deficit of approximately US$3.15 billion.

Against this backdrop, the India–Oman Comprehensive Economic Partnership Agreement (CEPA), signed on 18 December 2025 and brought into force on 1 June 2026, marks a major milestone in bilateral economic relations. Oman has provided duty-free access for 99.38 per cent of India’s exports by value, covering 98.08 per cent of its tariff lines. The agreement is expected to facilitate greater trade and investment, expand services cooperation and strengthen bilateral supply-chain linkages. It also provides significant scope to diversify and expand India’s export presence in Oman.

India and Oman have also developed strong investment linkages over the years. More than 6,000 India–Oman joint ventures operate in Oman, with estimated total capital investments of nearly US$7.5 billion. Cumulative FDI equity inflows from Oman to India were approximately US$606 million between April 2000 and March 2025. The Oman–India Joint Investment Fund provides an institutional platform for investment cooperation.

The scope for cooperation extends beyond merchandise trade and investment to services and emerging areas. Bilateral services trade reached about US$863 million in 2024, with India recording a surplus of US$447 million. Under CEPA, Oman has undertaken market-access commitments across 127 services sub-sectors, alongside enhanced mobility provisions for defined categories of professionals. The partnership also encompasses cooperation in digital payments, IT and innovation, higher education and skills, agriculture and food security, renewable energy and green hydrogen.

The strategic priorities of both countries also create opportunities for deeper economic engagement. Oman’s Vision 2040 places emphasis on economic and export diversification beyond hydrocarbons, while India’s Viksit Bharat 2047 agenda is advancing manufacturing, services, technology, infrastructure and clean-energy capabilities. These complementarities provide significant scope for expanding bilateral trade, investment, technology partnerships and regional value chains.