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Free Trade Agreement with EFTA Bloc
March 12 , 2024
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- India signed a free trade agreement with the four-nation European Free Trade Association (EFTA) in New Delhi.
- Iceland, Norway, Switzerland, and Liechtenstein are the four members of the EFTA.
- The deal is officially dubbed as the Trade and Economic Partnership Agreement (TEPA).
- The agreement is likely made with the plan to attract $100 billion in investments over a period of 15 years.
- Earlier to the signing, India had sought an investment commitment of $50 billion during the first 10 years after the implementation of the agreement.
- Another $50 billion will get over the next five years from the bloc members.
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