Muscat

Prime Minister Narendra Modi on Thursday said the Comprehensive Economic Partnership Agreement (CEPA) between India and Oman would give new confidence and momentum to bilateral ties, as he highlighted the economic reforms undertaken by India over the past 11 years that have made it one of the world’s most competitive markets.

Addressing the India-Oman Business Forum here, Modi said India has not only changed policies but also transformed its “economic DNA”.

“Over the past 11 years, India has not just changed policies, India has changed its economic DNA,” the Prime Minister said, citing reforms such as the Goods and Services Tax (GST) and the Insolvency and Bankruptcy Code (IBC).

He said GST turned India into a unified national market, while the IBC brought financial discipline, promoted transparency and strengthened investor confidence.

Highlighting the historical and civilisational links between the two countries, Modi said the Arabian Sea has long served as a bridge connecting India and Oman. “Between Mandavi and Muscat, the Arabian Sea is a strong connecting bridge. It has strengthened our ties, culture and economy,” he said.

Calling CEPA a “blueprint for the future”, the Prime Minister said it would accelerate trade and open new investment opportunities across sectors. “Today we are taking an important decision which will be remembered for times to come,” he added.

Modi also noted that India-Oman diplomatic relations are completing 70 years, describing it as not just a celebration but a foundation for carrying forward their shared legacy of maritime trade and mutual trust.

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Prime Minister Modi arrived in Muscat on Wednesday on a two-day visit, the final leg of his three-nation tour after Jordan and Ethiopia. The visit, at the invitation of Sultan Haitham bin Tarik, is aimed at further strengthening the India-Oman Strategic Partnership, with a focus on economic and commercial cooperation.