Business
Oman offers India reliable trade route
The trade pact with Oman holds strategic significance for India, as much of Muscat’s coastline lies outside the Strait of Hormuz, unlike other Gulf nations, enabling it to remain a reliable trade and energy gateway for India even during regional conflicts, disruptions or geopolitical instability, think tank GTRI said on Monday.
In that sense, the pact is not just a trade agreement but also an investment in India’s long- term energy and economic security, it added.
The Comprehensive Economic Partnership Agreement (CEPA) between India and Oman, which was signed in December last year, will come into force from June 1.
