India Oman Deal | How India-Oman Pact Will Cushion Impact Of West Asia Conflict

The India-Oman trade pact, offering zero-duty access to a range of Indian labour-intensive exports came into effect. The Comprehensive Economic Partnership Agreement (CEPA) was signed in December last year during Prime Minister Narendra Modi's visit to Muscat. The India-Omani CEPA comes into force amid the ongoing US-Iran war, which has severely disrupted the movement of ships in the international waters crossing the Strait of Hormuz. The strategically important narrow waterway handles about one-fifth (roughly 20 per cent) of global daily oil consumption and 25 per cent of global seaborne oil trade, making it the world's most critical energy chokepoint