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India's apparel exports to Oman at $52 mn, will CEPA boost trade?

01 Feb '25
2 min read
India's apparel exports to Oman at $52 mn, will CEPA boost trade?
Pic: Adobe Stock

Insights

  • India and Oman are strengthening bilateral ties through the Comprehensive Economic Partnership Agreement (CEPA), now in advanced negotiations.
  • Despite efforts, textile trade remains minimal.
  • India's apparel exports to Oman declined post-2019, reaching $52.253 million in 2024.
  • Fabric and home textile exports also fluctuated.
  • Ministers aim to expedite CEPA for enhanced trade and investment.
India and the Sultanate of Oman are making efforts to boost their bilateral ties through the Comprehensive Economic Partnership Agreement (CEPA). Both nations have also held discussions on enhancing bilateral cooperation in trade, investment, and other key areas during the 11th Session of the India-Oman Joint Commission. Presently, India and Oman have negligible bilateral trade in textile products. During January–October 2024, India’s apparel exports to the country were valued at $52.253 million. India also shipped fabric and home textiles of little value.

India’s Minister of Commerce and Industry, Piyush Goyal, and Oman’s Minister of Commerce, Industry, and Investment Promotion, Qais bin Mohammed Al Yousef, had a positive discussion in the session held in Oman in the recent past. The two Ministers also exchanged views on a bilateral India-Oman Comprehensive Economic Partnership Agreement (CEPA), which is at an advanced stage of negotiations. Both Ministers agreed to expedite the discussions for an early signing of the CEPA, which will be a new milestone in bilateral trade relations and has the potential to significantly scale up two-way trade and investments.

According to Fibre2Fashion's market insight tool TexPro, India’s apparel exports to the Gulf nation could not breach pre-COVID levels. The shipment was recorded at $102.242 million in 2019. The exports dipped to $64.901 million in the COVID year 2020. It recovered to $96.338 million in 2021. However, India’s shipments to the nation declined in 2022 and 2023. It fell to $68.533 million in 2022 and $65.107 million in 2023.

India also exported fabric worth $12.515 million in the first 10 months of 2024, compared to shipments of $14.756 million in 2023. The shipment was recorded at $14.802 million in 2019, which increased to $17.270 million in 2020 and $24.104 million in 2021. However, trade declined to $19.771 million in 2022, as per TexPro.

Similarly, India’s exports of home textiles also remained range-bound. It was recorded at $8.980 million in January–October 2024. Earlier, it was noted at $10.125 million in 2023, $10.647 million in 2022, $12.268 million in 2021, $9.484 million in 2020, and $8.968 million in 2019.

ALCHEMPro News Desk (KUL)

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