EFTA member countries include Iceland, Liechtenstein, Norway and Switzerland. The agreement consists of 14 chapters.
 |
| The Union Minister for Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles, Shri Piyush Goyal at the signing ceremony of the India-EFTA Trade & Economic Partnership Agreement (TEPA) at Bharat Mandapam, in New Delhi on March 10, 2024. Photo : PIB |
New Delhi: India signed the much awaited free trade agreement with the quadrilateral European Free Trade Association (EFTA). The agreement aims to increase mutual trade and investment in goods and services. Under this agreement, EFTA has pledged to invest $100 billion in India over the next 15 years. Union Commerce and Industry Minister Piyush Goyal called the signing of the free trade agreement a ‘historic moment’, saying it was India's first modern trade agreement with a group that included developed countries.
EFTA member countries include Iceland, Liechtenstein, Norway and Switzerland. The agreement consists of 14 chapters. These include issues such as trade in goods, rules of origin, intellectual property rights (IPR), trade in services, investment promotion and cooperation, government procurement and trade facilitation. On behalf of EFTA members, Federal Councilor Guy Permelin said that EFTA countries have access to a large market for growth. Our companies will try to diversify their supply chains by making them more aggressive. In return, India will get more foreign investment from EFTA. This will ultimately lead to job growth…Overall, TEPA (Trade and Economic Partnership Agreement) will help us better tap our economic potential and create additional opportunities for both India and EFTA.”
إرسال تعليق