Brief by Shorts91 Newsdesk / 07:54am on 12 Mar 2024,Tuesday India Global
India has signed a landmark free-trade agreement (FTA) with the European Free Trade Association (EFTA), comprising Norway, Switzerland, Iceland, and Liechtenstein. The deal promises $100bn in investments in India, spanning over 15 years. Prime Minister Narendra Modi hailed the pact as a boost to economic progress and youth opportunities. The agreement, following 16 years of negotiations, entails India lifting most import tariffs on industrial goods from the EFTA nations in exchange for investments across various sectors. Ratification by both parties is required before implementation, with Switzerland aiming for completion by next year.
