India has achieved a milestone in bilateral trade with the first-ever export of 40 metric tonnes (MT) of biscuits manufactured in Varanasi to Oman under the India-Oman Comprehensive Economic Partnership Agreement (CEPA). Union Commerce and Industry Minister Piyush Goyal announced the development on Friday, emphasizing that the preferential trade pact is enhancing the competitiveness of Indian food products in overseas markets.
Details of the Export and MoU
Sharing the news on X, Goyal stated, "For the first time, 40MT of biscuits manufactured in Varanasi have been exported to Oman under the India-Oman CEPA, advancing PM Narendra Modi ji's vision of taking 'Made In India' products to the world." He further revealed that a Memorandum of Understanding (MoU) has been signed to supply nearly 700 MT of biscuits to Oman and other Gulf Cooperation Council (GCC) countries during the fiscal year 2026-27.
Preferential Tariff Benefits Under CEPA
Highlighting the role of the trade agreement, Goyal noted that preferential tariff benefits under the India-Oman CEPA have enabled duty-free access for biscuits produced in India. "Preferential tariff benefits available under CEPA have allowed duty-free access for biscuits produced in India, making them more price-competitive in comparison to other key competitors in the Oman market," he said. This tariff advantage is expected to significantly improve export prospects for Indian manufacturers in the region.
Impact on Exports and Food Processing Sector
According to the minister, the tariff advantage is likely to translate into higher export volumes and repeat orders from importers in the region. "This is expected to translate into higher export volumes and repeat orders from importers in the region," Goyal said. He added that the development would provide a substantial boost to India's food processing sector through increased production and job generation. "Clearly a big boost to our food processing sector with increased production and job generation," the minister added.
