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India Business News: India and Oman are close to concluding talks on a trade deal that will allow easier access of goods and services into each other’s markets, officials familiar with the matter said. The deal is expected to further cement India's presence in the Gulf region.
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The agreement, under discussion since 2008, involves EFTA countries - Switzerland, Iceland, Liechtenstein, and Norway - eyeing to invest up to $100 billion over 15 years for market access in India.
At present, negotiations for FTAs with the UK, Oman, and the four-nation European Free Trade Association (EFTA) are nearing conclusion.
India and the European Union are making progress in the Free Trade Agreement (FTA) negotiations, with a focus on investment protection and geographical indications. The complex FTA is unlikely to be concluded before the general elections in India and the European Parliament polls. The defence sector cooperation, including cyber security, is also being discussed.