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

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 $***.*** million in ****. The exports dipped to $**.*** million in the COVID year ****. It recovered to $**.*** million in ****. However, India’s shipments to the nation declined in **** and ****. It fell to $**.*** million in **** and $**.*** million in ****.