Big push to pharma, marine products, beverages, processed foods
Shoma Patnaik
Panaji : Goa stands to benefit from the India-Oman Comprehensive Economic Partnership Agreement (CEPA) that came into effect from June 1, with the Centre disclosing that four sectors of the state – pharmaceuticals, marine products, beverages and processed foods – will gain from the bilateral deal.
The CEPA is aimed at promoting MSME clusters in states. It will boost exports, create jobs and strengthen MSMEs by providing them near-complete duty-free access for products.
In all, MSME clusters in 26 states have been identified as beneficiaries of the India-Oman CEPA. Bigger states such as Gujarat, Maharashtra, Tamil Nadu and Uttar Pradesh, etc are poised to profit more from the CEPA, as they have larger number of industries (10-12) selected for growth by the ministry.
Goa is among the smaller states such as Tripura, Meghalaya, Manipur, Nagaland, etc., that have an average of four industries for export thrust.
Goa’s pharmaceutical manufacturing hub had exports valued at Rs 6,527.1 crore in 2023-24. The state ranks sixth in all-India exports with an overall share of 5.6 per cent in the country’s total pharma exports.
Goa is also a small hub for marine products exports with Southeast Asia as the top destination for seafood.
In 2024-25, a total of 45,469 tonnes of fish was exported from the state, of which 37,779 tonnes was exported to the South East Asian countries, followed by China, Middle East and European Union.
Seafood exports to Southeast Asian countries like Thailand, Singapore and Malaysia, are mostly mackerels and squids. Goa is also a prominent exporter of alcoholic beverages.
The CEPA is expected to go beyond traditional manufacturing centres and will create opportunities for GI products, ODOP and niche products. MSME units in the identified sectors will have access to Gulf Cooperation Council (GCC) markets via Oman, said Commerce and Industry Minister Piyush Goyal.
The CEPA was signed in December 2025 by Goyal and Oman’s Minister of Commerce, Industry and Investment Promotion Qais bin Mohammed Al Yousef, in the presence of Prime Minister Narendra Modi and Sultan Haitham bin Tarik of Oman.
It aims at creating global opportunities for farmers, entrepreneurs and small businesses.
