'India, Oman close to signing trade pact'

The proposed India-Oman comprehensive economic partnership agreement is close to conclusion except for a few issues that are yet to be resolved, an official said.

The 'Omanisation' policy, which mandates employment of Omani nationals in the private sector, and its market access demands for petrochemical products are some of the remaining issues. New Delhi has insisted that the sector-specific quotas for compulsory employment of Omanis must be frozen at the current levels for India and not increased after CEPA is signed. This assumes significance as the quotas are periodically revised and can vary between 15% and 30%.

"We want existing regime of Omanisation to become permanent for us so that it doesn't become more restrictive in future, especially after the CEPA is signed," the official said.