Cabinet approves India-Oman free trade pact; PM Modi to sign on Dec 17-18

• India's Union Cabinet approved a free trade agreement (CEPA) with Oman.
• The pact is expected to be signed during PM Modi's visit to Oman on December 17-18.
• Formal negotiations for the CEPA began in November 2023 and concluded earlier this year.
• Oman is India's third-largest export destination among Gulf Cooperation Council (GCC) countries.
• Bilateral trade between India and Oman was approximately USD 10.5 billion in 2024-25.

Why It Matters: This deal will boost trade and investment between India and Oman.