2 hrs ago
India-EFTA Trade Pact Marks First Year, Targets Investment
India and the EFTA states have had a trade agreement for one year.
It is meant to make it easier for them to do business together.
The agreement also sets a goal of attracting $100 billion in investment and creating jobs over 15 years.
Swiss companies are looking at ways to bring machinery, medicines and other products and expertise to India.
A special desk has been created to help EFTA companies invest there.
The writer says it is too early to know the agreement’s full results.
The agreement also includes commitments on workers, the environment and responsible business.
The writer sees it as part of a much older friendship between India and Switzerland.
The Trade and Economic Partnership Agreement (TEPA) between India and the EFTA states has completed its first year in force.
The agreement links market access to a goal of $100 billion in investment and job creation over the next 15 years.
Swiss companies are considering opportunities in areas including machinery, pharmaceuticals, medical technology and specialty chemicals.
A dedicated desk has been established to support EFTA companies investing in India.
The agreement includes provisions on labour standards, environmental protection and responsible business conduct.
- Who
- India and the EFTA states, including Switzerland.
- What
- The first anniversary of the Trade and Economic Partnership Agreement (TEPA) entering into force.
- Where
- Between India and the EFTA states.
- When
- At the agreement’s first anniversary; the article does not give an exact date.
- Why
- To deepen economic ties, encourage long-term investment, create jobs and strengthen cooperation.
Key facts
- Agreement
- Trade and Economic Partnership Agreement (TEPA)
- Anniversary
- First year since TEPA entered into force
- Investment and jobs goal
- $100 billion over the next 15 years
- Swiss business sectors mentioned
- Precision machinery, pharmaceuticals, MedTech and specialty chemicals
- Investment support
- A dedicated Desk has been set up for EFTA companies
- Agreement provisions
- Labour standards, environmental protection and responsible business conduct
- Related milestone
- India and Switzerland will mark 80 years since signing their Treaty of Friendship in 2028
Sources
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