Archive · 2 Jun 2025
India-Oman FTA Nears Completion, Omanisation Remains Obstacle
India and Oman are close to making a trade deal, which would make it easier for them to buy and sell goods and services from each other.
The main issue holding things up is how many local workers Oman will require companies to hire instead of foreign workers.
India wants to make sure its workers can still find jobs in Oman and that the rules for hiring local workers won't change too much.
If the deal goes through, India expects to sell more goods and services to Oman.
The trade between these two countries has recently decreased.
Negotiations for an FTA between India and Oman are nearing completion.
The degree of 'Omanisation' is the last major hurdle in the FTA negotiations.
India seeks to secure opportunities for its workers and freeze 'Omanisation' percentages.
India is expected to gain greater market access for services and goods.
Bilateral trade between India and Oman decreased from $12.39 billion in FY22-23 to $8.94 billion in FY23-24.
- Who
- India and Oman
- What
- Negotiations for a Free Trade Agreement (FTA), with 'Omanisation' as the main hurdle.
- When
- Negotiations are nearing completion.
- Where
- Oman
- Why
- To establish a Free Trade Agreement (FTA) to boost trade and economic opportunities.
Indian Industry
Oman
Duty Concessions
Indian Industry
Concerned about potential impact from low-cost imports of petrochemical products from Oman.
Oman
Not explicitly mentioned in the article.
- FTA Parties
- India and Oman
- Main Issue
- 'Omanisation' policy
- India's Import from Oman (FY23-24)
- $4.52 billion
- India's Export to Oman (FY23-24)
- $4.42 billion
- India's previous FTA with GCC
- UAE