India inaugurated the India-EFTA Desk on Tuesday as the Trade and Economic Partnership Agreement takes effect on October 1. The platform will coordinate investments from Switzerland, Norway, Iceland, and Liechtenstein in renewable energy, life sciences, engineering, and digital sectors. The agreement commits $100 billion in investments and pledges to create one million direct jobs over 15 years across various industries.
EFTA nations offered market access covering 92.2 percent of tariff lines, which represent 99.6 percent of India's exports to the bloc. India reciprocated by opening 82.7 percent of its tariff lines, which account for 95.3 percent of EFTA exports. The Ministry of Commerce and Industry stated the deal protects sensitive sectors, including pharmaceuticals, medical devices, processed food, dairy products, and agriculture, while maintaining current gold import duties.
EFTA nations offered market access covering 92.2 percent of tariff lines, which represent 99.6 percent of India's exports to the bloc. India reciprocated by opening 82.7 percent of its tariff lines, which account for 95.3 percent of EFTA exports. The Ministry of Commerce and Industry stated the deal protects sensitive sectors, including pharmaceuticals, medical devices, processed food, dairy products, and agriculture, while maintaining current gold import duties.
