India and EFTA trade agreement to increase business, investment, and job creation


The India-EFTA trade pact, expected to be signed later this year, will boost commerce and investment, create jobs, and expand the economic partnership between India and the four members of the European Free Trade Association (EFTA).

The EFTA comprises Iceland, Liechtenstein, Norway and Switzerland and the trade agreement will provide preferential access to the markets of these countries, which have a combined GDP of $1.7 trillion.

The agreement is expected to provide market access for Indian goods, including pharmaceuticals, chemicals, plastics, textiles and leather. It will also boost two-way investment flows and create new opportunities for Indian companies to do business in the EFTA countries. It will also facilitate the movement of professionals from India to the EFTA countries, helping to create new jobs and economic opportunities.

The agreement is expected to provide substantial tariff benefits for Indian businesses and will help reduce the cost of goods sold to the EFTA countries as well as to expand the range of products that are available to Indian consumers. Additionally, the pact is expected to improve the regulatory environment for businesses, reduce non-tariff barriers and improve the predictability of the trade rules.