New Delhi, Dec. 17 -- New Delhi: As the India-Oman free trade agreement (FTA) is set to be signed on Thursday during Prime Minister Narendra Modi's visit to Muscat, the deal is being positioned as a key pillar of India's expanding economic and strategic engagement with the Gulf, even as its immediate trade upside remains measured by the size of Oman's market.

The Comprehensive Economic Partnership Agreement (CEPA) will be the final stop of the Prime Minister's three-nation tour, which included Jordan and Ethiopia. Negotiated since November 2023, the pact covers goods, services and investment and is expected to come into force in a few months, following domestic ratification.

The FTA will be signed in the presence of Modi and Oman's head...