Prime Minister Narendra Modi on Thursday highlighted that the Comprehensive Economic Partnership Agreement (CEPA) between India and Oman will bring renewed confidence and energy to the bilateral relationship. Speaking at the India-Oman Business Summit, he noted that the gathering would chart a fresh course for cooperation between the two nations. “Today, we are taking a historic step whose impact will resonate for decades. The CEPA will inject new confidence and momentum into our partnership in the 21st century,” Modi said.

He emphasized India’s progressive and self-reliant nature, noting that as India grows, it also helps its partners prosper. Modi pointed out that India is on track to become the world’s third-largest economy, which benefits the global community and holds particular significance for Oman. He underlined the close ties between the two countries, describing them as not only friends but also maritime neighbors with generations of mutual trust and a deep understanding of each other’s markets.

Modi invited Omani companies to participate in India’s growth story, highlighting the nation’s rapid economic expansion. He attributed this growth to structural reforms over the past 11 years, including the implementation of GST and the Insolvency and Bankruptcy Code (IBC), which have transformed India’s economic framework.

The Prime Minister arrived in Oman on Wednesday for a two-day visit. During 2024-25, bilateral trade between India and Oman reached approximately USD 10.5 billion, with exports of USD 4 billion and imports of USD 6.54 billion. Modi expressed optimism that the CEPA and ongoing collaboration would create new avenues for business and strengthen the historic partnership between the two nations.