India, Oman hold fifth round of talks for proposed free trade agreement

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India, Oman hold fifth round of talks for proposed free trade agreement - Business Standard

Quick Summary:

According to the think tank GTRI (Global Trade Research Institute), Indian goods worth USD 3.7 billion like gasoline, iron and steel, electronics, and machinery will get a significant boost in Oman, once both sides reach a comprehensive free trade agreement.

India and Oman are holding the fifth round of talks for a proposed free trade agreement here to boost bilateral economic ties, an official said on Tuesday.

Currently, over 80 per cent of its goods enter Oman at an average of 5 per cent import duties, a GTRI report has said.