Muscat – Oman’s planned free trade agreement (FTA) with India is expected to significantly boost bilateral trade, attract investment and diversify economic activity in line with Oman Vision 2040, according to economists and trade experts.

The agreement, which is under negotiation, is part of Oman’s wider strategy to expand trade ties through FTAs with key partners around the world. Officials say such agreements enhance competitiveness, strengthen supply chains and open new opportunities in non-oil sectors.

Dr Habiba bint Mohammed al Mughairy, Assistant Professor and Head of Business Administration at University of Technology and Applied Sciences, said the deal with India “represents a pivotal step towards strengthening trade and investment relations by reducing customs duties and expanding the scope of non-oil exports”. She added that it would support GDP growth, open new opportunities for SMEs and create jobs in sectors such as health, technology and renewable energy.

Experts agreed that the FTA will help Oman diversify income sources, attract foreign investment, strengthen the private sector’s role and lower consumer prices through reduced tariffs. With Oman’s ports positioned as regional hubs for re-export, they added, the agreement will further consolidate the sultanate’s role in global supply chains.

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