Schedule a Call Back
Switzerland green lights historic India-EFTA trade agreement
Industry News- Sep 06,24
Signed in March, this comprehensive agreement is designed to enhance trade in pharmaceuticals, manufacturing, and emerging technologies, with a projected investment of $100 billion in India over the next 15 years.
Switzerland’s federal cabinet has approved a landmark trade agreement between India and the European Free Trade Association (EFTA), which includes Norway, Switzerland, Iceland, and Liechtenstein. The pact now awaits ratification by the Swiss Parliament.
Signed in March, this comprehensive agreement is designed to enhance trade in pharmaceuticals, manufacturing, and emerging technologies, with a projected investment of $100 billion in India over the next 15 years. It aims to reduce tariffs and trade barriers, particularly benefiting Swiss exports to India.
The Swiss government emphasised the significant growth potential offered by India’s expanding middle class, despite current high import duties. The pact features a dedicated chapter on investment promotion and cooperation and is intended to set a benchmark for sustainable trade development. The Swiss Parliament will review and discuss the agreement in upcoming sessions.
(devdiscourse)
Related Stories
Smart Manufacturing
India eyes $3 trillion industrial opportunity by 2035
Omniscience Capital emphasised that higher domestic consumption—fuelled by rising per capita income—and India’s target of $1 trillion in merchandise exports by 2030 will be major growth driver..
Read morePolicy Regulation
India and Chile Sign Terms of Reference for CEPA negotiations
The CEPA aims to build upon the existing PTA between the two nations and seeks to encompass a broader range of sectors, including digital services, investment promotion and cooperation, MSME, critic..
Read moreProcess Equipment
U.S. FDA to begin surprise checks abroad
The FDA conducts approximately 12,000 domestic and 3,000 foreign inspections annually across over 90 countries.
Read moreRelated Products
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
