India-Oman CEPA opens up new chapter for Mahindra Group: CEO Anish Shah

After two years of formal discussions, New Delhi and Muscat have finally signed the comprehensive economic partnership agreement (CEPA) today, which is essentially a free trade agreement (FTA) between the two countries. The agreement was signed on December 18, 2025, in the presence of prime minister Narendra Modi and Oman's Sultan Haitham bin Tariq Al Said.

Anish Shah, Group CEO & MD, Mahindra Group on India Oman FTA said, “the signing of the India–Oman Comprehensive Economic Partnership Agreement marks a significant milestone in India’s engagement with the Gulf. Oman is already one of India’s most valued partners and our third-largest export destination in the GCC, with bilateral trade of $10.6 billion in 2024–25. The CEPA will deepen this partnership by enabling near-complete duty-free access for Indian goods and catalysing greater trade and investment across sectors such as energy, minerals, technology, tourism and agriculture."

Mahindra Group has significant presence in Oman, primarily through Tech Mahindra, focusing on digital transformation, technology innovation, and local talent development in alignment with Oman Vision 2040. The company has an innovation and technology development centre in Muscat which provides AI, cloud and 5G services to key sectors like telecom, oil and gas, and public services.

Maker's Lab is another initiative by Tech Mahindra which is an R&D unit in Muscat dedicated to creating intellectual property, and advanced digital solutions for smart enterprises. The IT behemoth has also partnered with Oman Data Park to implement the national project and procurement management system (Takamul project), a critical initiative for streamlining government system efficiency.

Tech Mahindra has also said that it's committed to upskilling Omani youth, aiming to train over 500 local professionals in emerging fields like cybersecurity and AI.

Mahindra Group CEO Shah also said that, "for the Mahindra Group, the CEPA opens a new chapter in our long-standing relationship with Oman. We are proud to reaffirm our commitment to Oman’s growth journey. Tech Mahindra’s technology development centre in Muscat is already supporting key industries through AI, cloud and 5G, with over 300 associates. This agreement allows us to expand collaboration in digital transformation, clean energy, supply chains and mobility.”

Speaking at the India-Oman Business Summit in Muscat today, Prime Minister Narendra Modi said that the ambitious FTA between Oman and India is the "blueprint of a bright future."

PM Modi said that CEPA has the potential to create a lot of opportunities for the youth of both the countries, increasing employment and fostering innovation. “When policy and enterprise walk together, it creates a new history,” he said.

Confederation of Indian Industry (CII) director general Chandrajit Banerjee said, "We welcome the announcement of the India–Oman Comprehensive Economic Partnership Agreement (CEPA) as an important step in strengthening India’s economic engagement with a key partner in the Gulf. The agreement reflects India’s proactive trade strategy and gives new momentum and direction to high-quality, mutually beneficial partnerships that support export growth, investment-led development, and trusted economic cooperation."

"For Indian industry, the CEPA with Oman enhances market access and trade facilitation while creating an enabling framework for services, investment, technology collaboration, and mobility of professionals. I congratulate the Government of India for this strategic initiative and am confident that the agreement will catalyse bilateral trade and investment in wide ranging sectors including emerging areas such as green energy and agri-innovation start-ups, contributing to competitiveness, job creation, and long-term economic collaboration", Banerjee added.