India opened a new trade corridor for Viksit Bharat @2047, by signing a landmark comprehensive Economic Partnership Agreement with Oman, the second largest trading partner in the Gulf region on 18th December 2025 and completed the internal processes in a record time and giving effect to the agreement from 1st June 2026. The comprehensive bilateral trade pact with Oman offers zero-duty access for 99.38% of India’s exports, including products of textile industry, the second largest employment provider of the nation, that employs over 11 crore rural masses predominantly women folks.
In a press release issued here today, Mr. Durai Palanisamy, Chairman, The Southern India Mills’ Association highly appreciated and thanked Hon’ble Prime Minister Shri Narendra Modi ji, Hon’ble Minister of Commerce, Shri Piyush Goyal Ji and Hon’ble Minister of Textiles, Shri Giriraj Singh ji for achieving the best deal for the textile industry. He has said that the such proactive initiatives coupled with five new schemes announced in the recent Union Budget exclusively for textiles and various other schemes and policy interventions will accelerate the growth of the textile industry and achieve the vision of increasing the textile exports from US$ 36 Billion to US$ 100 Billion business size from US$ 172 Billion to US$ 350 Billion (including exports), attract new investments to the tune of US$ 100 Billion and create new jobs for 20 Million people by 2030.
Mr. Durai has stated that India’s textile products will get tariff advantage of 5% and have a level playing field with competing countries like Bangladesh and Turkey and boost the exports of readymade garments and home textiles. He has said that the CEPA would benefit all the major export clusters in Tamil Nadu especially Tirupur, Coimbatore and Karur and give wider market access.
SIMA Chairman has said that India’s total textile exports to Oman stood at US$ 94 Million in FY 2025-26 as against the total Oman’s total textile import of US$ 598 Million accounting around 16% and ranking as the third-largest supplier. He has said that CEPA would provide more opportunities to significantly scale up textile exports and gain greater market share.
Mr. Durai appreciated the gateway to GCC and East Africa using Oman’s logistics hubs at Sohar, Dueqm and Salalah and amplifying India’s regional trade connectivity.
