The honour recognised Modi's role in deepening ties, with the prime minister calling it a symbol of enduring friendship between the peoples of India and Oman. The CEPA, signed in the presence of both leaders, grants duty-free access to over 98% of Indian exports to Oman, covering nearly 99% by value, including textiles, gems, jewellery, pharmaceuticals, and automobiles.
Speaking at the India-Oman Business Summit, Modi described the pact as a "historic step" and "blueprint for our shared future." "The CEPA will give new confidence and energy to our partnership in the 21st century," he said, predicting gains in trade, investment, and job creation across sectors like renewable energy, services, and traditional medicine.
Oman, in turn, secures reduced tariffs on select exports such as petrochemicals and dates. The agreement, Oman's first bilateral deal since 2006 with the US, follows two years of negotiations and aligns with the 70th anniversary of diplomatic relations.
Bilateral trade reached $10.6 billion in 2024-25, supported by over 6,000 India-Oman joint ventures. Additional pacts covered maritime cooperation, agriculture, education, and millet cultivation.
Modi, wrapping up the final leg of a three-nation tour after Jordan and Ethiopia, addressed the Indian diaspora in Muscat, praising their contributions to centuries-old links.
The CEPA is expected to enter force early next year, enhancing India's Gulf footprint amid efforts to diversify trade partnerships and strengthen supply chains.
