Following the formal announcement by India’s Minister of Commerce and Industry, the India–Oman Comprehensive Economic Partnership Agreement (CEPA) will take effect on 1 June 2026. Market attention has largely focused on the surface-level benefit that “Oman will exempt an average 5% import tariff on 98% of Indian export goods.”

【SMM Steel】India's Commerce and Industry Minister Piyush Goyal announced that the India-Oman Comprehensive Economic Partnership Agreement will officially take effect on June 1, 2026. Under the agreement, Oman will grant duty-free access to nearly 98% of Indian exports, covering 99.38% of India's export value to Oman. Goyal also stated that India and Chile are in talks to upgrade their existing trade pact to a Comprehensive Economic Partnership Agreement to further strengthen bilateral economic cooperation and trade ties.

[SMM Steel] India’s commerce minister announced that the India-Oman free trade agreement (FTA), signed in December 2025, will officially come into effect on June 1, 2026. The agreement is expected to boost bilateral trade by granting duty-free access to nearly 98% of India’s exports to Oman. India also said it is negotiating with Chile to upgrade their existing trade pact into a Comprehensive Economic Partnership Agreement (CEPA).