Q1. Consider the following statements regarding the India-Oman Comprehensive Economic Partnership Agreement (CEPA) that entered into force on 1 June 2026:\n1. The CEPA provides duty-free access for 99.38 per cent of India exports to Oman by value.\n2. The CEPA is India first trade agreement with a member of the Gulf Cooperation Council (GCC).\n\nWhich of the statements given above is/are correct?
A 1 only Correct
B 2 only
C Both 1 and 2
D Neither 1 nor 2
Explanation
Statement 1 is correct: The India-Oman CEPA provides duty-free access for 99.38 per cent of India exports by value, covering 98.08 per cent of Oman tariff lines. Statement 2 is incorrect: The CEPA is India SECOND trade agreement with a GCC member; the first was the India-UAE CEPA signed in 2022.