NewsIndia clinches historic $100 billion trade pact with EFTA nations
India clinches historic $100 billion trade pact with EFTA nations
After nearly 16 years of negotiations, India has reached an agreement with the European Free Trade Association (EFTA), which includes Norway, Switzerland, Iceland, and Liechtenstein.
Under the terms of this deal, India will eliminate most import tariffs on industrial goods from these four countries. In return, these countries will make investments worth $100 billion over the next 15 years.
These investments will span across sectors such as pharmaceuticals, machinery, and manufacturing.
Prime Minister Narendra Modi hailed this agreement as a "landmark pact," highlighting it as evidence of their dedication to economic advancement and job creation for the youth.
Modi expressed optimism about the future, stating, "The times ahead will bring greater prosperity and mutual growth if we strengthen our bonds with the EFTA countries."
