The draft Economic Partnership Agreement with India has been reviewed by Oman’s Majlis al Shura. The committee examined the possible economic implications of implementing the agreement, its alignment with Oman Vision 2040, and its impact on key sectors such as logistics, manufacturing, technology, services, and tourism. The Economic and Financial Affairs Committee of the Shura Council presented the details of the agreement.
Economic partnership with India will help Oman diversify its revenue sources, reduce dependence on oil, and attract foreign investments. The agreement will also create an important opportunity to generate employment while supporting Oman’s nationalisation goals, said Ahmed Al Shukri, Chairman of the Economic and Financial Affairs Committee.
He added that Oman’s geographical position gives the Sultanate a competitive advantage in attracting Indian investments. Opportunities for Indian investment in major sectors — such as logistics, manufacturing industries, tourism, and technology transfer — are strengthened by Oman’s strategic location. After the discussions, the Council approved its report and submitted it to the Cabinet.
Before formal signing or implementation, the government will continue the remaining approval procedures through legal channels. India–Oman trade includes energy, minerals, food products, manufacturing materials, and services. The agreement is expected to further strengthen bilateral relations and deepen the economic integration between the two countries. The Shura Council completed its review quickly in anticipation of Prime Minister Narendra Modi’s visit to Oman on December 17 and 18.
Modi’s West Asia tour is scheduled from December 15 to 18. He will spend the final two days of the trip in Oman. This will be Modi’s second visit to Oman since becoming prime minister.
