Oman-India Comprehensive Pact: Unlocking Major Economic Gains for Investors and Entrepreneurs
MUSCAT – Economists and analysts emphasize that the eagerly awaited Comprehensive Economic Agreement between the Sultanate of Oman and the Republic of India is set to significantly enhance trade and investment relations. This partnership is expected to boost competitiveness, open new opportunities in key sectors, and support the objectives of Oman Vision 2040 by advancing economic diversification.
Experts highlight that free trade agreements are a cornerstone of Oman’s outward economic strategy, aimed at strengthening both regional and global supply chains while expanding non-oil exports to attract high-quality investment.
Dr. Habiba bint Mohammed al Mughairiyah, Assistant Professor and Head of the Business Administration Department at the University of Technology and Applied Sciences, described the agreement as a pivotal move that will reduce tariffs and broaden opportunities for non-oil exports. She anticipates the deal will contribute to GDP growth, create additional space for small and medium-sized enterprises (SMEs), and open new pathways in healthcare, technology, and renewable energy. These developments are expected to generate employment and enhance supply chain connectivity.
Economic and financial analyst Rashid bin Abdullah al Sheidhani called the agreement a positive milestone, noting India’s emergence as a major economic power and Oman’s strategic position as a bridge between East and West. He forecasted that the agreement would expand Omani export potential, stimulate GDP, support diversification efforts, facilitate knowledge transfer from India, and increase market access for Omani companies. Rashid projected that bilateral trade could surpass RO 5 billion in the future, further boosting non-oil sector activity and job creation—a testament to the success of Oman’s economic diplomacy.
Writer and economic journalist Mohammed bin Ali al Araimi pointed to the agreement’s strategic importance in lowering tariffs, facilitating trade flows, and revitalizing key sectors such as oil and refined products, textiles, pharmaceuticals, metals, and services. He also expects a rise in joint investments in infrastructure, energy, and tourism, as well as enhanced maritime connectivity and increased use of Omani ports as a regional re-export hub. Furthermore, development in digital trade and intellectual property protection is anticipated.
Legal adviser and economist Dr. Qais bin Dawood al Sabai, a member of the Oman Economic Association, underlined the deep historical ties between Oman and India. He said India’s extensive manufacturing capacity and expanding consumer market create vast opportunities for partnership, positioning the bilateral relationship as a renewed model of economic integration grounded in mutual interests.
Dr. Qais added that the agreement represents a watershed moment by establishing a strategic partnership with global reach. It will also strengthen maritime trade links by leveraging Oman’s strategic geography and globally connected ports, unlocking new investment flows across finance, trade, and investment sectors.
In conclusion, analysts affirm that this agreement will diversify Oman’s revenue streams, attract foreign direct investment, expand the private sector’s role, create jobs for young Omanis, and reduce consumer prices through tariff reductions. This solidifies Oman’s position as a promising regional trade hub aligned with the goals of Oman Vision 2040. — ONA
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The Comprehensive Economic Agreement between Oman and India marks a strategic leap toward deepening trade, investment, and sectoral diversification aligned with Oman Vision 2040. For businesses, this creates vast opportunities in healthcare, technology, renewable energy, and non-oil exports, while smart investors should focus on sectors benefiting from tariff reductions, maritime connectivity, and enhanced market access. However, firms must also prepare for increased competition and rapidly evolving trade dynamics spurred by enhanced regional integration and knowledge transfer.
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