India-Oman CEPA kicks in June 1: What will get cheaper, which sectors achieve, and key advantages defined
The India-Oman Complete Financial Partnership Settlement (CEPA) will come into pressure on June 1. It grants New Delhi 100% duty-free entry throughout 98.08% of tariff traces, masking 99.38% of export worth, with the advantages accessible from Day 1. KIRTIKA SUNEJA explains
INDIA’S EXPORTS GAINS
Engg items, pharma, agri & processed meals, marine merchandise, textiles, chemical substances, electronics, plastics, gems & jewelry
DUTY FREE EXPORTS
- Pure honey, cashew, boneless meat, bakery merchandise
- Chocolate, sugar confectionery, mineral wate
- Cheese, curd, milk, cream, frozen fish, butter
- Animal & vegetable fat and oil
- Oman levies 5-100% responsibility at current
- Zero-duty accessconsolidates India’s 98.3% share, making Oman India’s largest export vacation spot for eggs
MOBILITY, SERVICES GAINS
- Enhanced mobility for Indian Professionals
- Short-term keep commitments for intra-corporate transferees, contractual service suppliers, enterprise guests, unbiased professionals
- Liberalised entry, keep for professionals in accountancy, taxation, structure, medical
- Dedication on 100% FDI for Indian cos in main companies sectors
- First-ever dedication by any nation on conventional drugs
- Quick monitoring of promoting authorisations for USFDA, EMA, UKMHRA-approved pharma merchandise
WHAT BECOMES CHEAPER FOR INDIA
- Dates: Obligation-free entry to 2,000 tonnes of Omani dates yearly
- Concessions to Oman’s Gum Arabica (utilized in meals, medicines), Frankincense utilized in fragrance sector
- Petrochemicals, Marble blocks
