Oman says it can help meet India's energy and fertiliser needs amid West Asia turmoil

India could gain greater access to Oman's energy, fertiliser and pharmaceutical sectors under the recently operationalised India-Oman Comprehensive Economic Partnership Agreement (CEPA), according to Oman's Foreign Trade Advisor Pankaj Khimji.

Welcoming the implementation of the trade pact, Khimji said Oman remains open to foreign companies bidding for conventional oil and gas projects in the country. He added that Oman is looking for a "win-win" partnership with India in the energy sector.

As Oman pushes ahead with its green energy transition and ambitions to become a global green hydrogen hub, Khimji said the country would require equipment such as electrolysers, creating opportunities for Indian manufacturers.

He also highlighted opportunities in pharmaceuticals, noting that Oman is a net importer of medicines and is keen to source more pharmaceutical products from India under the CEPA framework.

Addressing concerns arising from disruptions in oil, gas and fertiliser supplies due to the ongoing West Asia crisis, Khimji said Oman would be willing to prioritise supplies to India if required.

"If push comes to shove, Oman would be happy to focus production for the Indian market," he said, adding that the country could also help bridge India's petrochemicals deficit, where India remains a net importer.

Khimji said Oman's LPG production may not be sufficient to meet India's overall demand, but the country would be willing to direct available supplies to India, subject to an agreed pricing mechanism.

The comments come at a time when trade flows between India and the Gulf region have been affected by the West Asia crisis. India's imports from major Gulf economies fell sharply from around $15 billion in April 2025 to $9.8 billion in April 2026, while exports to the region declined from $4.4 billion to $2.7 billion during the same period.

Oman, however, emerged as a notable exception. With its ports located outside the Strait of Hormuz, India's imports from Oman surged 246.4% year-on-year, rising from $430 million to nearly $1.5 billion in April 2026, driven largely by higher purchases of crude oil and urea.

Oman is already a key supplier of energy, fertilisers and industrial raw materials to India. In FY26, India imported goods worth $7.2 billion from Oman, including crude oil worth $1.6 billion, liquefied natural gas worth $1.2 billion and fertilisers worth $843 million. Oman also supplied methanol worth $465 million and ammonia worth $424 million to India.