India and European Free Trade Association (EFTA) signed a Trade and Economic Partnership Agreement (TEPA) committed to promote investments to increase the stock of foreign direct investments by USD 100 billion in India in the next 15 years.

MOUs and Agreement

India and European Free Trade Association (EFTA) signed a Trade and Economic Partnership Agreement (TEPA) committed to promote investments to increase the stock of foreign direct investments by USD 100 billion in India in the next 15 years. The investments do not cover foreign portfolio investment. This agreement to help promote investments and exports of key domestic services sectors such as IT, audio-visual, and movement of skilled professionals. This will facilitate the generation of 1 million direct employment in India through such investments. The agreement has 14 chapters, including trade in goods, rules of origin, intellectual property rights (IPRs), trade in services, investment promotion and cooperation, government procurement, technical barriers to trade, and trade facilitation.


      The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland.

      EFTA is offering 92.2% of its tariff lines which covers 99.6% of India’s exports.

      The EFTA’s market access offer covers 100% of non-agri products and tariff concession on Processed Agricultural Products (PAP).

 

     


European Free Trade Association (EFTA)

Founded- 1960
HQ- Geneva, Switzerland
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