Get ready for some exciting news on the trade front! India has just signed a game-changing Comprehensive Economic Partnership Agreement (CEPA) with Oman, and it’s set to bring a wave of benefits, starting with our beloved marble.
For years, rough marble blocks were off-limits from Oman. But now, thanks to this new agreement, India is the *first* country for whom Oman has opened its doors! This means a steady supply of quality marble blocks will soon be flowing into India. Why is this such a big deal? Union Minister Piyush Goyal explained that instead of importing expensive finished marble, we can now bring in raw blocks, creating countless jobs as India processes them into beautiful tiles and flooring right here at home.
This move also strategically reduces India’s reliance on Türkiye, which previously supplied over half of our marble block imports. With Oman offering better quality and pricing, we’re not just diversifying our sources, but also getting a superior deal. This shift is a significant win for India’s economy and its manufacturing sector.
But the CEPA goes far beyond marble. It offers duty-free access for Indian exporters to the Omani market for nearly 96% of goods immediately. This opens up huge opportunities for Indian minerals, base metals, and especially our booming services sector. Oman has even made it easier for Indian professionals and companies to operate there, offering extended visas and flexible employment rules, further solidifying trade ties.
This landmark agreement, the sixth FTA India has signed in four years, marks a new chapter in India-Oman relations. With trade already at $10.61 billion, this CEPA is poised to boost it considerably, creating a stronger, more independent, and prosperous India.
