India-Oman Comprehensive Economic Partnership Agreement (CEPA)

Economy

In News

The India–Oman Comprehensive Economic Partnership Agreement (CEPA) came into force on 1 June 2026, creating one of India’s most comprehensive trade agreements in the Gulf region.

Comprehensive Economic Partnership Agreement (CEPA)

It goes far beyond a traditional Free Trade Agreement (FTA).
While a standard FTA focuses mostly on cutting tariffs on physical goods, a CEPA is a holistic agreement.

It covers:

Trade in Goods (reducing or removing customs duties).
Trade in Services (allowing professionals and service industries to work smoothly).
Investment Facilitation (protecting and easing foreign direct investments).
Intellectual Property Rights (IPR) and competition policies.
Regulatory Cooperation (standardizing certifications, customs rules, and reducing non-tariff barriers).

India’s Active CEPAs – Currently, India has active agreements with:

Additional Information – Comparing India’s Trade Agreements

Agreement Type	Level of Integration	Primary Focus
Preferential Trade Agreement (PTA)	Lowest	Lowers duties on a very limited, agreed number of products.
Free Trade Agreement (FTA)	Moderate	Focuses mostly on reducing or eliminating tariffs on a wide list of goods.
Comprehensive Economic Cooperation Agreement (CECA)	High	Deals broadly with tariff reductions and Tariff Rate Quotas (TRQ). Considered a stepping stone to a CEPA.
Comprehensive Economic Partnership Agreement (CEPA)	Highest	Extends a CECA to include deep targets for investments, service sectors, and strict regulatory standards.

Art & Culture

Context

Prime Minister Narendra Modi paid tribute to Lokmata Ahilyabai Holkar on her birth anniversary.

Ahilyabai Holkar (1725–1795)

She was the celebrated queen of the Holkar dynasty who ruled the Malwa kingdom in the 18th century.
Revered as the “Philosopher Queen” for her enlightened and people-centric governance.
Born in Chondi village, Ahmednagar (Maharashtra) and married to Khanderao Holkar, son of Malhar Rao Holkar.
After the deaths of her husband, father-in-law and son, she assumed the administration of Malwa in 1767.

Major Contributions

She is remembered for her model of justice, welfare-oriented governance, and cultural preservation.
Ahilyabai rebuilt important temples such as the Kashi Vishwanath Temple and Somnath Temple in the 18th century.
She promoted women’s education, widow remarriage, and opposed practices like sati.
She also worked for the upliftment of tribal communities and lower castes.
Under her rule, Maheshwar and Indore became major trade centres, and the famous Maheshwari saree tradition flourished.

Government Schemes

Context

PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Scheme, has completed six years of empowering street vendors through affordable collateral-free credit, digital inclusion and social security.

PM SVANidhi Scheme

Financing – It is a Central Sector Scheme
Launched on – 1 June 2020
Objective – to provide affordable working capital loans to street vendors affected by the COVID-19 pandemic.
Implementing Agencies: Ministry of Housing and Urban Affairs (MoHUA)
Eligible criteria: Street vendors in possession of Certificate of Vending/Identity Card issued by Urban Local Bodies (ULBs).

Key Features

Working Capital Loan: Collateral-free loans of ₹15,000, ₹25,000, and ₹50,000.
UPI-linked RuPay Credit Cards: Vendors successfully repaying the second tranche are eligible for UPI-linked RuPay Credit Cards with limits up to ₹30,000.

SVANidhi se Samriddhi (SSS):

It is an Indian government scheme that links street vendors and their families to eight welfare programs for safety and health.
Main Purpose – It helps vendors who got a PM SVANidhi loan.
Workers visit vendors to check what their families need.
It connects them to benefits without complex paperwork.

The 8 Benefits Included

International

In News

India has officially signed a deal to supply BrahMos supersonic cruise missiles to Vietnam, as confirmed at the Shangri-La Dialogue in Singapore.

Shangri-La Dialogue

Established in – 2002
It is also known as the Asia Security Summit
It is Asia’s premier defence and security forum.
It is held annually at Singapore’s Shangri-La Hotel.
Organised by – International Institute for Strategic Studies (IISS), London, with support from Singapore’s Ministry of Defence.
Mandate – The dialogue focuses on both traditional security issues (territorial disputes, military cooperation) and non-traditional challenges (terrorism, cybersecurity, climate change).
Note – India’s Raisina Dialogue is considered to be modelled on the Shangri-La Dialogue.

Additional Information – BrahMos Missile

Type: Two-stage supersonic cruise missile (World’s fastest operational cruise missile).
Joint Venture: India (DRDO) and Russia (NPOM).
Named after Brahmaputra and Moskva rivers.
Speed: Mach 2.8 to 3.0 (Nearly 3 times the speed of sound).
Principle: “Fire and Forget” (Requires no control after launch).
Platform: Multi-platform (Can launch from land, air, sea, and submarines).
Warhead: 200–300 kg conventional (tactical weapon, not nuclear).
Range Evolution & MTCROriginal Range (290 km): Restricted due to Russia being bound by MTCR (Missile Technology Control Regime) rules.
Extended Range (400–450 km+): Upgraded after India joined MTCR in 2016, lifting the range limits.