India opens its markets to EFTA countries in exchange for investments

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India signed a free trade agreement with Swiss, Norway, Iceland H Liechtenstein To alleviate Rates On a wide range of products and attracting foreign direct investment at a time when the growth of the world's fifth largest economy is not accompanied by an increase in employment opportunities.

The agreement – which comes just weeks before political elections that could give the Indian Prime Minister a historic third term Narendra Modi – Includes trade in goods and services, investment promotion and cooperation, intellectual property, public procurement, trade and sustainable development, as well as the resolution of trade disputes.

At the base of Al Trade and economic partnership agreement Under the TEPA agreement signed on Sunday in New Delhi, the four non-EU European countries will be able to export their industrial products without incurring tariff barriers that have historically protected Indian companies from foreign competition. Likewise, many exporters from New Delhi will be able to access European markets for the first time without paying customs duties and better integrate into European markets. Suppliers worldwide.

Agreement with the four member states of the European Free Trade Association, s IftaThis comes as the most important negotiations with the UK and EU are not yet completed.

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The trade agreement concerns more than 95% of EFTA exports to India, but does not affect the most important clause of all:Oro. On the other hand, electrical machinery, watches and packaged food will soon no longer be subject to New Delhi's heavy tariff regimes. A number of agricultural products, dairy products and coal were also excluded from the agreement.