New Delhi, May 23 -- India-Oman free trade negotiations have been fast-tracked, ending the year-long deadlock over market access for Omani petrochemical products in lieu of long-term certainty on a quota for employing locals by Indian ventures in Oman, three officials said, adding that the announcement of the pact may coincide with imminent trade deals with the United States and the European Union. At least three trade negotiations are on the verge of conclusion after New Delhi and London announced a free trade agreement (FTA) deal on May 6, the officials added, requesting anonymity: early harvest deals with the US and the EU and a comprehensive FTA with Oman. HT on Thursday reported that India's trade deal with the US and the EU are expected to close between June and July. "The Oman deal is happening after a successful FTA with the United Arab Emirates (UAE) in 2022. The two templates will pave way for an expended deal with the Gulf Cooperation Council (GCC), particularly Saudi Arabia," one of the officials said. GCC was established on May 25, 1981 by Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE. All GCC members want greater market access for their petroleum products, a second official said. "Indian petroleum firms are anyway competing with them in other markets, hence they don't require any undue protection. Trade deals are 'give and take' for mutual gains and can't be one-sided," he added. "India-Oman FTA talks are progressing fast and some remaining issues are being resolved by the two parties," he said. Negotiations between India and the Sultanate of Oman were almost over during the Modi 2.0 government itself, but the deal could not be signed because last minute disagreements over some issues related to goods like petrochemicals. The talks get fresh impetus during Union commerce minister Piyush Goyal's Muscat visit on January 27-28. Another matter of concern was "Omanisation" of Indian investments in the country, a third official said.Oman mandates participation of Omani citizens in the private sector. The policy mandates sector-specific percentage or quota, which is often revised. India wants that the sector-specific percentage existing currently should remain unchanged under the proposed FTA for Indian investors....