India-Efta Trade Agreement News: Commerce and Industry Minister Piyush Goyal said on Friday that the free trade agreement between India and the European block EFTA of four countries is likely to be implemented in the next few months. Both sides signed the Trade and Economic Partnership Agreement (TEPA) on 10 March 2024. Members of the European Free Trade Association (EFTA) are Iceland, Lystantine, Norway and Switzerland.
Under the agreement, India has received an investment commitment of US $ 100 billion in 15 years from the group. On the other hand, many products like Swiss watches, chocolate and chopped and polished diamonds will be charged low or zero. Goyal said at a program in SGS India here, ‘I think it should be implemented in the next few months.
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Members of the European Free Trade Association (EFTA) are Iceland, Lystantine, Norway and Switzerland. Goyal said about the government’s initiative to promote the manufacture of quality products in the country that 156 Quality Control Orders (QCOs) have been issued to reduce the import of inferior goods in the last 10 years. (Language)
Edited by: Chetan Gour
