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India, Oman trade pact — This pact grants India 100 per cent duty-free market access for 98.08 per cent of Oman’s tariff lines, significantly boosting exports in key sectors like textiles and agricultural goods.

The India-Oman Comprehensive Economic Partnership Agreement (CEPA) will come into force on June 1. It grants New Delhi 100% duty-free access across 98.08% of tariff lines, covering 99.38% of export value, with the benefits available from Day 1. KIRTIKA SUNEJA explains

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INDIA’S EXPORTS GAINS
Engg goods, pharma, agri & processed food, marine products, textiles, chemicals, electronics, plastics, gems & jewellery

DUTY FREE EXPORTS

Natural honey, cashew, boneless meat, bakery products
Chocolate, sugar confectionery, mineral wate
Cheese, curd, milk, cream, frozen fish, butter
Animal & vegetable fats and oil
Oman levies 5-100% duty at present
Zero-duty access, consolidates India’s 98.3% share, making Oman India’s largest export destination for eggs

MOBILITY, SERVICES GAINS
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Live Events

Enhanced mobility for Indian Professionals
Temporary stay commitments for intra-corporate transferees, contractual service suppliers, business visitors, independent professionals
Liberalised entry, stay for professionals in accountancy, taxation, architecture, medical
Commitment on 100% FDI for Indian cos in major services sectors
First-ever commitment by any country on traditional medicine
Fast tracking of marketing authorisations for USFDA, EMA, UKMHRA-approved pharma products

WHAT BECOMES CHEAPER FOR INDIA

Dates: Duty-free access to 2,000 tonnes of Omani dates annually
Concessions to Oman’s Gum Arabica (used in food, medicines), Frankincense used in perfume sector
Petrochemicals, Marble blocks

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