The Cabinet clearance followed approval by Oman’s Shura Council, marking a significant step forward after negotiations for the agreement formally began in November 2023
Prime Minister Narendra Modi’s three-nation visit to Jordan, Ethiopia and Oman is set to sharpen India’s economic diplomacy, with trade, investment and strategic partnerships forming the core of engagements across West Asia and Africa.
The visit, officials said, is expected to unlock new opportunities to expand India’s economic footprint in regions that are increasingly central to its growth, energy security and global trade ambitions. High-level political meetings will be complemented by a strong focus on commerce, investment flows and long-term partnerships.
A key pillar of the visit is Oman, where India’s economic ties have gathered renewed momentum following last week’s Union Cabinet approval of the proposed Free Trade Agreement between the two countries. The pact, officially termed the Comprehensive Economic Partnership Agreement (CEPA), aims to deepen trade and investment relations and reduce barriers for businesses on both sides.
The Cabinet clearance followed approval by Oman’s Shura Council, marking a significant step forward after negotiations for the agreement formally began in November 2023. India and Oman share a long-standing, multidimensional Strategic Partnership underpinned by strong trade ties, energy cooperation and deep cultural links.
Economic and commercial relations between the two countries have remained robust. Bilateral trade stood at $8.947 billion in FY 2023–24 and rose to $10.613 billion in FY 2024–25, according to official figures. Investment flows have also been strong, reflected in a large number of joint ventures operating in both countries.
More than 6,000 India–Oman joint ventures are currently present in Oman, collectively estimated to have added around $7.5 billion to the Gulf nation’s economy over time in the form of capital investment. During his visit to Muscat, Prime Minister Modi is expected to hold high-level talks with the Sultan of Oman, focusing on strengthening the Strategic Partnership and further expanding economic cooperation.
In Jordan, India’s growing trade relationship is another key focus. India is Jordan’s third-largest trading partner, with bilateral trade valued at around $2.8 billion. Jordan is also a crucial supplier of fertilisers to India, particularly phosphates and potash, which are vital for India’s agricultural sector.
India’s engagement with Ethiopia highlights its deepening ties with Africa. Although bilateral trade stood at around $550 million in FY 2024–25, India remains Ethiopia’s second-largest trading partner. India’s exports to Ethiopia include iron and steel products, pharmaceuticals, fertilisers and machinery, underscoring the breadth of the economic relationship.
Taken together, the three-nation visit reflects India’s broader strategy of leveraging trade and investment to reinforce diplomatic partnerships and secure long-term economic growth.
