New Delhi: Prime Minister Narendra Modi emphasised India’s robust economic growth of over 8 per cent while addressing the India-Oman Business Summit in Muscat.
He highlighted India’s position as the world’s fastest-growing major economy, noting that the country’s economic progress benefits not only India but also its partners, particularly Oman.
PM Modi discussed the India-Oman Comprehensive Economic Partnership Agreement (CEPA), describing it as a milestone that will energise bilateral trade and deepen economic collaboration.
He said: “Today, we are taking such a historic decision, the echo of which will be heard for many decades to come. Comprehensive Economic Partnership Agreement, that is, CEPA, will give our partnership new confidence and new energy in the 21st century.”
He underlined the long-standing trust and understanding between the two nations, shaped by generations of business engagement.
Union Commerce Minister Piyush Goyal noted that bilateral trade has surpassed $10 billion and highlighted the CEPA’s role in enabling duty-free trade and removing barriers.
The agreement marks Oman’s second free trade pact with a country in nearly two decades and offers Indian and Omani businesses strategic opportunities in the Gulf, Africa and West Asia.
The CEPA reinforces India’s commitment to strengthening economic ties in the Gulf region while supporting broader global trade ambitions.
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