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The negotiations for the India-Oman Comprehensive Economic Partnership Agreement (CEPA) have been concluded that will give a boost to trade and investment flows.
“Negotiations for India–Oman Comprehensive Economic Partnership Agreement (CEPA). have been concluded,” minister of state for commerce and industry Jitin Prasada informed the Lok Sabha in reply to a question.
A Strategic Milestone in India’s Trade Agenda
Negotiations on CEPA with Oman started in November 2023, and significant ground was covered by March 2024. In between some issues cropped up which now seems to have been settled.
He said till date India has signed 15 Free Trade Agreements and 6 Preferential Trade Agreements with the most recent being the India UK Comprehensive Economic and Trade Agreement (CETA) on 24 th July, 2025.
Navigating Global Trade Tensions and New Tariffs
Currently, India is negotiating trade agreements with the European Union, Sri Lanka, Peru, Chile, New Zealand and the US. The talks are on for India-Australia Comprehensive Economic Partnership Agreement which will expand the Economic Partnership and Trade Agreement. Further the review of trade agreements with Korea and Association of Southeast Asian Nations (ASEAN).
On India-US trade relations, the minister said that the government continues to monitor the impact of the additional tariffs imposed by the US on exports from India. The government is engaged with all stakeholders including exporters and industry for taking feedback of their assessment of the impact from the reciprocal tariffs imposed by the US, he added.
The reciprocal tariff impact will depend on factors such as product differentiation, demand, quality and contractual arrangements, Prasada said. The impact of US tariffs on exports to US in various sectors will also depend and vary based on comparative tariffs on other countries including the competitors. The Department of Commerce is engaged with stakeholders to help reduce the impact through export promotion and diversification measures.
In reply to another question he said the government of India is involved in the discussions on the India-US Bilateral Trade Agreement (BTA) with the US with the aim to expand trade and investment through tariff stability and long term trade predictability.
The department of commerce is continuously engaged with all stakeholders, including industry, to advance trade and mitigate the impact of trade wars. It aims to promote trade and economic growth through trade promotion, FTAs, trade facilitation and remedial measures related to import and export, the minister added.
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