Ahead of the India–Oman Comprehensive Economic Partnership Agreement implementation, pharma exporters body Pharmexcil has highlighted the opportunities that await Indian pharmaceutical, AYUSH and wellness sectors.
“One of the immediate benefits under the CEPA framework would be implementation of zero tariffs on Indian pharmaceutical products, including active pharmaceutical ingredients (APIs) and formulations, from the date of operationalisation,” Pharmaceuticals Export Promotion Council of India ( Pharmexcil) Director General Raja Bhanu said in a communication to members recently.
The Department of Commerce will facilitate consignments scheduled during the first half of June with the presence and support of senior officials, he said, urging the members to submit details of consignments for Oman for Pharmexcil to coordinate and represent, in the event of any issues.
Inked in December 2025 the India–Oman CEPA is tentatively scheduled to be implemented from June 1. An important initiative, it is being closely monitored by the Union Minister of Commerce and Industry Piyush Goyal, the Pharmexcil DG said, listing fast-tracking of marketing authorisations for pharmaceutical products approved by stringent regulatory authorities such as USFDA, EMA and UKMHRA among the key benefits of the India–Oman CEPA .
Acceptance of good manufacturing practices (GMP) certificates and inspection documents thereby reducing approval timelines, compliance burden and associated costs for Indian pharmaceutical exporters and enhanced market access and trade facilitation measures to improve export competitiveness for Indian pharma and healthcare products in Oman are a few other features of the CEPA.
It is also first-ever commitment by any country on traditional medicine across all modes, opening significant opportunities for India’s AYUSH and wellness sectors, Mr.Raja Bhanu said.
Earlier this the Centre, outlining benefits of the CEPA, said there is binding zero-duty access for key finished medicines, vaccines and core APIs, including penicillins, streptomycins, tetracyclines and erythromycins, thereby supporting stable pricing and long-term supply arrangements. Oman’s pharmaceutical market, on account of being heavily import-dependent creates sustained demand for external suppliers, was valued at $302.84 million in 2024 and projected to reach $473.71 million by 2031, growing at a CAGR of 6.6 per cent.
India’s pharma exports to Oman rose 22% in 2024-25 to nearly $70 million. During the fiscal, bilateral trade between India and Oman stood at $10.61 billion as against $8.94 billion in 2023–24.