The Central Board of Indirect Taxes and Customs (CBIC) has notified the operationalisation of tariff concessions under the India-Oman Comprehensive Economic Partnership Agreement (CEPA), enabling preferential duty treatment for eligible imports from Oman from 1 June 2026. Benefits will apply only to goods meeting the pact\u2019s rules of origin requirements.<\/p>\n
For the gems & jewellery sector, Oman\u2019s import market is valued at about USD 1.07 billion annually, while India\u2019s exports to Oman stood at USD 35 million in 2024, including USD 24.4 million in polished natural diamonds and USD 10 million in gold jewellery. Duty elimination of up to 5% is expected to improve competitiveness for Indian exporters.<\/p>\n
Kirit Bhansali, Chairman, GJEPC, said, \u201cThe India-Oman CEPA is a key enabler for strengthening direct trade ties and expanding India\u2019s gem and jewellery exports to Oman. Zero duty access will significantly improve competitiveness for Indian exporters and encourage direct sourcing. We see strong growth opportunities for polished diamonds and gold jewellery, along with emerging demand for silver, platinum and imitation jewellery. With this framework, exports to Oman can scale from USD 35 million to around USD 150 million over the next three years.\u201d<\/p>\n
Issued by the Ministry of Finance on 31 May 2026, Customs Notification No. 20\/2026\u2013Customs lays down the framework for duty concessions on a wide range of goods imported from the Sultanate of Oman under the trade pact. The CEPA grants India 100% duty-free market access in Oman across 98.08% of tariff lines, covering 99.38% of India\u2019s export value. India, meanwhile, has adopted a calibrated liberalisation approach, offering tariff liberalisation on 77.79% of its tariff lines while maintaining exclusion lists and safeguards to protect sensitive sectors, domestic manufacturing and agricultural interests.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Central Board of Indirect Taxes and Customs (CBIC) has notified the operationalisation of tariff concessions under the India-Oman Comprehensive Economic Partnership Agreement (CEPA), enabling preferential duty treatment for eligible imports from Oman from 1 June 2026. Benefits will apply only to goods meeting the pact\u2019s rules of origin requirements. For the gems & jewellery…<\/p>\n","protected":false},"author":1,"featured_media":36624,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-36622","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"\n