AI Summary

India's strategic partnership with Oman has gained significance as tensions escalate in the Strait of Hormuz. The Comprehensive Economic Partnership Agreement (CEPA) between the two nations has come into effect, providing India with an alternative trade route. The agreement, ratified by Oman's Sultan in February, eliminates customs duties on nearly all of Oman's tariff lines, giving India immediate access to the country's trade routes. This development is particularly timely as the Hormuz crisis deepens, potentially disrupting global oil supplies. The CEPA's timing is noteworthy, as it was signed before the current tensions in the region. The agreement's implementation now allows India to capitalize on Oman's trade routes as a potential alternative to the Strait of Hormuz.

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