Since 2020, Indian investments in Oman surpassed $5 billion in green steel, ammonia, aluminium, and logistics
New Delhi
India and Oman are moving closer to signing a Free Trade Agreement that is expected to strengthen economic ties between the two countries and the wider Gulf region. The proposed pact will be Oman’s second trade agreement with a single nation and its first such deal in nearly two decades, making it an important moment in bilateral relations.
Officials say the agreement will improve access to markets, encourage fresh investments, and deepen cooperation across several key industries. It is also expected to help both nations diversify trade and build stronger supply chains during a period of global economic change.
Indian investments in Oman have grown rapidly in recent years, crossing five billion dollars since 2020. These investments cover areas such as green steel, green ammonia, aluminium production, and logistics, showing India’s long term trust in Oman as a stable business base.
The India Oman FTA comes as New Delhi continues to expand its global trade network. In recent years, India has signed multiple agreements that have benefited farmers, exporters, and small businesses by lowering tariffs and opening new markets.
Trade pacts with countries like Australia, the United Arab Emirates, the United Kingdom, and members of the European Free Trade Association have already boosted exports in sectors including textiles, gems, jewellery, engineering goods, and food products. Similar gains are expected from the Oman agreement.
Commerce and Industry Minister Piyush Goyal said the deal would create opportunities in textiles, automobiles, renewable energy, and food processing. He also highlighted Oman’s strategic location, which can help Indian firms reach markets across the Gulf, Africa, and beyond in coming years ahead.
