The free trade agreement between India and four-European nation bloc EFTA, which will come into force from October 1, will have legally binding provisions on trade and sustainable development, Switzerland said on Wednesday.
“For the first time, India has laid down legally binding provisions on trade and sustainable development in a free trade agreement,” it said in a statement.
The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland.
The two sides signed the Trade and Economic Partnership Agreement (TEPA) on March 10, 2024.
Under the pact, India has received an investment commitment of USD 100 billion in 15 years from the grouping while allowing several products such as Swiss watches, chocolates and cut and polished diamonds at lower or zero duties.
The bloc committed an investment of USD 100 billion USD 50 billion within 10 years after the implementation of the agreement and another USD 50 billion in the next five years which would
​The free trade agreement between India and four-European nation bloc EFTA, which will come into force from October 1, will have legally binding provisions on trade and sustainable development, Switzerland said on Wednesday.
“For the first time, India has laid down legally binding provisions on trade and sustainable development in a free trade agreement,” it said in a statement.
The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland.
The two sides signed the Trade and Economic Partnership Agreement (TEPA) on March 10, 2024.
Under the pact, India has received an investment commitment of USD 100 billion in 15 years from the grouping while allowing several products such as Swiss watches, chocolates and cut and polished diamonds at lower or zero duties.
The bloc committed an investment of USD 100 billion USD 50 billion within 10 years after the implementation of the agreement and another USD 50 billion in the next five years which wouldÂ
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