New Delhi, Dec. 21 -- India has taken another significant step towards deepening its integration with global supply chains by signing a Comprehensive Economic Partnership Agreement (CEPA) with Oman, a move expected to expand bilateral trade, strengthen MSME-led exports and enhance India's energy security, according to Dipanwita Mazumdar, Economist at Bank of Baroda.

The agreement signed during Prime Minister Narendra Modi's visit to Oman earlier this week focuses on expanding trade and investment flows while creating new opportunities for labour-intensive sectors such as textiles, leather, footwear, gems and jewellery, and engineering products.

These sectors, which are closely linked to employment generation, are expected to see improve...