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India is finalizing major trade agreements with Oman, New Zealand, the EU, and the US. PM Modi and Commerce Minister Piyush Goyal lead the diplomatic push, strengthening India’s global trade presence and economic partnerships.
Prime Minister Modi and Piyush Goyal's Visit for Free Trade Agreement with Oman
New Delhi: According to sources, Prime Minister Narendra Modi and Commerce Minister Piyush Goyal may visit Oman next week, where a Free Trade Agreement (FTA) between the two countries is likely to be signed.
However, the exact dates of the visit and the composition of the delegation will be finalized after the proposal receives approval from the Union Cabinet. According to sources, this is merely a formality, as the agreement has already been finalized.
India and Oman began negotiations on a Comprehensive Economic Partnership Agreement (CEPA) in November 2023. This was followed by three rounds of negotiations, during which both sides reached an agreement on all aspects of the CEPA, including the draft agreement and market access offers.
India-US Relations Hit New Low Amid Trade, Diplomacy, and Geopolitical Tensions
The proposal was placed before the Cabinet in March 2024, but it was deferred at that time, requiring further review. Subsequently, the fourth and fifth rounds of negotiations were held in September 2024 and January 13-14, 2025, focusing on the revised proposals. Currently, both sides are in the process of obtaining internal approvals for the final agreement.
Piyush Goyal told reporters in Jaipur that FTA negotiations with New Zealand are also in the final stages. New Zealand's Trade Minister Todd McClay will be visiting New Delhi on December 12, 2025, for this purpose.
Discussions on an FTA with the European Union have also taken place, with a recent visit by an EU delegation and EU Commissioner for Trade and Economic Security, Maros Sefcovic. Goyal said that the framework of the agreement is now ready and will be finalized soon.
A US team is currently in India, and Goyal said that talks are ongoing towards a bilateral trade agreement with the US. The US team will be in India until December 12.
India-US trade talks progressing, US team in Delhi for negotiations: Piyush Goyal
Through all these efforts, India is moving towards strengthening its role in global trade. The signing of the FTA with Oman, the ongoing final negotiations with New Zealand and the European Union, and the discussions towards a bilateral agreement with the United States clearly reflect India's international economic strategy.
