India-Oman FTA Likely From June 1; Chile Trade Deal Faces Challenges

India’s Free Trade Agreement (FTA) with Oman is expected to come into effect from June 1, 2026, according to Commerce Minister Piyush Goyal. The agreement is expected to provide duty-free access to nearly 98% of Indian exports to Oman, including textiles, agriculture products, and leather goods.

In return, India will reduce tariffs on selected Omani products such as dates, marble, and petrochemical items. The government believes the deal will strengthen trade relations, improve supply chain integration, and open new opportunities for Indian exporters in the Gulf region.

At the same time, India’s proposed trade agreement with Chile is facing hurdles due to differences in the size of both economies and trade expectations. However, discussions are still ongoing, especially around securing access to critical minerals like lithium and copper, which are essential for India’s electronics, EV, and solar industries.

Reports suggest Chile’s massive lithium reserves could become strategically important for India as the country focuses on clean energy and electric vehicle expansion.

Do you think India’s focus on FTAs and critical minerals can strengthen the country’s long-term economic growth?