Mahindra Group welcomes India-Oman free trade agreement

Mahindra Group CEO and MD Anish Shah welcomed the impending India-Oman free trade agreement (FTA) that will deepen trade ties with the gulf country.  

The countries are due to sign a Comprehensive Economic Partnership Agreement (CEPA) during Indian Prime Minister Narendra Modi's two-day visit in Oman.   

"The CEPA will deepen this partnership by enabling near-complete duty-free access for Indian goods and catalysing greater trade and investment across sectors such as energy, minerals, technology, tourism

and agriculture," Shah said.

The Mahindra Group leader believes the CEPA marks a significant milestone in India’s engagement with the Gulf that would also open a new chapter for the Mahindra Group's engagement in Oman where it operates a technology development centre in Muscat. The centre has over 300 associates supporting key industries through AI, cloud and 5G.  

"We are proud to reaffirm our commitment to Oman’s growth journey...This agreement allows us to expand collaboration in digital transformation, clean energy, supply chains and mobility,” Shah noted.  

PM Modi, who is currently in Muscat for a two-day visit, said that signing CEPA is a "historic decision" that will give India-Oman ties a new energy and confidence. 

Addressing the India-Oman Business Summit, he said the move would benefit not only Oman but the entire world.   

"It is even more beneficial for Oman because, in addition to being close friends, we are also maritime neighbours. Our people know each other well. We have generations of trust in our business relations, and we understand each other’s markets very well," the Prime Minister said.  

Bilateral trade between Oman and India stood at $10.5 billion in 2024-25. This includes $4 billion worth of exports and $6.54 billion in imports.  

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