India and Oman Sign Economic Agreement Amid Tariff Challenges
According to the International Desk of Webangah News Agency, Oman and India have formalized an economic agreement designed to bolster trade and investment ties, while facilitating the seamless exchange of goods and services.
The agreement is intended to strengthen collaboration, encourage investment, and establish a strategic vision for bilateral cooperation, according to officials.
Indian Prime Minister Narendra Modi stated in a speech in Oman that the agreement will accelerate trade, enhance investment confidence, and unlock new opportunities across multiple sectors.
Reports indicate that this is India’s second major agreement this year, following a similar deal with the United Kingdom. It aims to open new markets for Indian goods, particularly in response to increased tariffs on Indian products imposed by U.S. President Donald Trump.
In late August, the Trump administration raised tariffs on Indian goods to 50%, ranking among the highest globally. This action followed India’s decision to purchase Russian oil to meet its energy needs.
