India and Oman have taken a significant step toward strengthening bilateral trade with the signing of the India–Oman Comprehensive Economic Partnership Agreement (CEPA). Under this agreement, Indian gems and jewelry exports to Oman will receive zero-duty market access, a move expected to boost trade volumes and create new growth avenues for Indian exporters.
According to the Gem and Jewellery Export Promotion Council (GJEPC), exports to Oman are projected to reach USD 150 million, supported by improved trade terms and enhanced market access.
Source: GJEPC – India–Oman CEPA announcement
Key Highlights of the India–Oman CEPA
The agreement introduces several advantages for the Indian gems and jewelry sector:
Zero customs duty on gems and jewelry exports to Oman
Improved ease of market entry for Indian manufacturers and exporters
Strengthened trade relations between India and the Gulf region
Greater scope for long-term export partnerships
Oman’s strategic location and trade-friendly policies also position it as a potential gateway to wider Middle Eastern and African markets.
Why This Agreement Matters for Jewelry Businesses
The Middle East has traditionally been one of the strongest markets for Indian jewelry exports. However, duty structures often impact pricing competitiveness. The India–Oman CEPA directly addresses this challenge by eliminating duty barriers.
For Indian jewelry businesses, this translates into:
Better price competitiveness in the Omani market
Higher margins or flexibility to offer competitive pricing
Reduced landed cost for buyers
Stronger positioning against competing exporting nations
For small and mid-sized exporters, the agreement lowers entry barriers and reduces dependence on traditional markets.
Export Growth and Market Expansion Potential
GJEPC’s projection of exports reaching USD 150 million indicates growing confidence in the Omani market. Demand is expected across:
Plain gold jewelry
Studded jewelry
Diamond and gemstone jewelry
Lightweight and contemporary designs
Oman’s stable economic environment and strong retail demand for jewelry make it an attractive destination for Indian exporters looking to diversify geographically.
J K Diamonds Institute – Industry Insight
The India–Oman CEPA represents more than a trade agreement; it is a strategic opportunity for Indian jewelry businesses to rethink their export approach. Duty-free access creates room for experimentation, product differentiation, and brand-building in a new market. This is over and above the India-UAE CEPA which has already helped boost India's exports of gems and jewelry exports. Such news can definitely help Indian exporters grow their businesses faster.
In our interaction with exporters and business owners, we observe that companies with strong product knowledge, export compliance readiness, and market understanding are best positioned to capitalize on such agreements. Businesses that act early; by identifying suitable product lines, understanding consumer preferences, and aligning pricing strategies; stand to gain a first-mover advantage.
Trade agreements reward preparedness. Export success increasingly depends not just on manufacturing capability, but on strategic market entry and operational execution.
What Jewelry Businesses Should Do Next
To leverage the benefits of the CEPA, businesses should consider:
Studying consumer preferences and price points in the Omani market
Ensuring export documentation and compliance readiness
Engaging with GJEPC for market intelligence and buyer connects
Developing export-ready collections suited to Gulf preferences
Evaluating Oman as a hub for broader regional expansion
Early movers are likely to establish stronger distribution networks and long-term relationships.
Conclusion
The India–Oman CEPA marks a positive development for the Indian gems and jewelry industry, offering duty-free access to a promising export market. For businesses willing to adapt and expand beyond traditional markets, the agreement opens doors to sustainable growth and international diversification.
As global trade becomes increasingly competitive, strategic use of trade agreements will play a crucial role in shaping the future success of Indian jewelry exporters.
