India has concluded talks about a Free Trade Agreement (FTA) – referred to as the Comprehensive Economic Partnership Agreement (CEPA) – with Oman. The FTA will be formalised once a new government takes over — after India’s upcoming general election (results of the polls be declared on June 4, 2024). Oman would be the second Gulf country, after UAE, with which India would have signed an FTA (the FTA with UAE was implemented in May 2022). In 2022-2023, bilateral trade between Oman and India was estimated at $12.39 billion. Oman is India’s third-largest trade partner in the Gulf. The Gulf country has strong historical linkages with India, especially through maritime trade, and is home to a significant Indian expat population, like other Gulf countries. The Indian population in Oman accounts for 20% of the total population.