India has found itself in the global spotlight this week, not just for its roaring stock markets but also for major strides in trade diplomacy and technological innovation. From a landmark free trade deal with Oman to a celebrated win at NASA’s Space Apps Challenge, the country’s ambitions on the world stage seem to be converging across economic, scientific, and digital frontiers.
On December 18, 2025, Indian stocks surged, with both the Nifty 50 and BSE Sensex climbing 0.6%. As reported by Finimize, this rally was powered by easing US inflation and a renewed influx of foreign investment. US inflation for November clocked in at just 2.7% year-on-year, a figure that soothed investor nerves and raised hopes for Federal Reserve rate cuts in 2026. The ripple effect was immediate—foreign portfolio investors snapped up nearly 6 billion rupees (about $66 million) in Indian equities for the second straight session, reversing a weeks-long trend of outflows.
Pharma stocks were the standout performers, buoyed by the US Biosecure Act, which could prompt American firms to diversify supply chains away from China. This shift is seen as a potential boon for Indian pharmaceutical manufacturers, opening doors to new opportunities. Financials and IT stocks also posted solid gains. The upbeat mood was further reflected in ICICI Prudential Asset Management’s IPO, which debuted 20% above its offer price, while GPT Infraprojects soared 6% on the back of a major contract win.
The optimism wasn’t limited to a few sectors. According to Finimize, all 16 market sectors participated in the rally, signaling robust confidence and a sense that India’s markets could remain strong contenders heading into 2026. This widespread enthusiasm is underpinned by India’s growing appeal as an investment and manufacturing destination, especially as global investors look beyond developed markets for growth. The combination of policy support for homegrown firms and persistent foreign inflows could be the recipe for sustained momentum.
But the story of India’s ascent isn’t just about markets. On the same day, in Muscat, India signed a Comprehensive Economic Partnership Agreement (CEPA) with Oman—a move that could reshape the country’s trade landscape. As covered by AP, the pact was inked by India’s Commerce and Industry Minister Piyush 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 Oman’s Sultan Haitham bin Tarik.
This agreement is India’s second major free trade deal in just six months, following one with the United Kingdom in May. The timing is no accident. With US tariffs on Indian goods currently at 50%—a situation exacerbated by diplomatic strains and India’s continued purchases of discounted Russian crude—the government in New Delhi has been eager to secure stable export markets in West Asia and reduce its vulnerability to punitive duties imposed by Washington.
Under the terms of the CEPA, Oman will grant zero-duty access on more than 98% of its tariff lines, covering 99.38% of India’s exports by value. Nearly 98% of product categories will see immediate tariff elimination. India, for its part, will reduce or eliminate tariffs on 77.79% of its tariff lines, amounting to 12,556 product categories and nearly 95% of imports from Oman by value. Sensitive products such as dairy, tea, coffee, rubber, tobacco, gold and silver bullion, jewellery, footwear, sports goods, and base metal scraps remain on an exclusion list to protect domestic producers.
The agreement, expected to take effect in the first quarter of 2026, covers more than just goods. Oman’s global imports of services stand at $12.52 billion, but India’s share is just over five percent. The CEPA includes commitments to expand trade in services, with Oman offering broader access in fields like computer-related services, professional and business services, research and development, education, and healthcare. Indian companies will now be able to hold 100% foreign direct investment in major Omani service sectors, and the agreement also facilitates the temporary movement of skilled professionals.
India and Oman already enjoy robust economic ties, with bilateral trade reaching approximately $10.5 billion in the 2024-25 financial year. Indian exports to Oman have grown steadily, particularly in machinery, which has doubled from $3 billion to $6 billion over five years. Oman’s exports to India are dominated by energy-related products and industrial inputs, crucial for India’s industrial sectors.
Industry leaders, especially in the gems and jewellery sector, see the CEPA as a lifeline, offering improved access to Oman and potentially broader Arab markets. As Indian exporters face regulatory hurdles in the European Union—including the looming carbon border tax—the Gulf region’s relatively open regulatory environment is increasingly attractive.
Meanwhile, India’s broader trade strategy continues to evolve. The CEPA with Oman is part of a wider push to secure trade agreements with nearly all major global economies. India currently has 15 free trade agreements covering 26 countries and is negotiating with over 50 other partners. Notably, China remains the exception. While negotiations with the US have stalled, recent diplomatic overtures—such as Modi’s public welcome of Trump’s peace initiative on Ukraine—suggest that the door isn’t entirely closed.
India’s global ambitions are not confined to economics and trade. On December 19, 2025, a Chennai-based team named Photonics Odyssey clinched the “Most Inspirational Award” at the NASA Space Apps Challenge 2025. As reported by The Hindu, the team’s proposal for a sovereign, phased-array satellite internet infrastructure aims to expand broadband access to India’s remote and underserved regions—a challenge that affects more than 700 million people, especially in rural, hilly, tribal, and geographically isolated areas.
The NASA Space Apps Challenge is no small feat, drawing over 114,000 innovators from 167 countries and territories. Photonics Odyssey’s concept leverages phased-array satellite technology, which allows electronic beam steering for faster signal acquisition, lower latency, higher reliability, and scalability—key advantages over traditional systems. The project’s core objectives are to reduce reliance on terrestrial infrastructure, improve resilience during disasters, and foster inclusive digital growth across the country.
The team—Manish D. M., K. Prasanth G., Rajalingam N., Rashi M., and Sakthika R.—combined expertise in photonics, satellite communications, and systems design. Their win not only highlights India’s expanding footprint in global STEM innovation but also underscores the country’s growing reputation as a source of solutions to real-world challenges. NASA noted that participants of Indian origin featured prominently among the winners, reflecting the strong global presence of Indian talent in technology and science.
From the trading floor to the outer reaches of space, India’s week has been marked by optimism, ambition, and a clear sense of momentum. As the country continues to position itself as a leader in markets, trade, and technology, the world is taking notice—and the opportunities ahead look as vast as the night sky.