India, Oman agree to have joint feasibility study on limited trade deal

India and Oman on Wednesday agreed to undertake a joint feasibility study, before going ahead with a preferential trade deal on limited goods.

A senior commerce department official said Oman had requested India for a preferential trade agreement on limited items, where both nations can discuss reduction in tariff of some items of export interest.

The development is taking place at a time when India is set to begin deeper engagements with the Gulf Cooperation Council (GCC) countries towards inking a free trade agreement (FTA). GCC is a regional, intergovernmental political economic union comprising six countries — Bahrain, Kuwait, Oman, Qatar, Saudi