India’s bilateral free trade agreement with the four-nation European Free Trade Association ( EFTA ) will come into force today, where major gains for India would be through investment commitments and service-sector access in return for preferential access to its markets for goods.

The agreement with EFTA – which includes Switzerland , Iceland, Norway and Liechtenstein – was signed on March 10, 2024; it’s officially called Trade and Economic Partnership Agreement (TEPA).

The biggest trade partner of India in the bloc, Switzerland, already has zero duties on industrial products so the additional concessions to India can be provided only in agriculture commodities and services.

What did Anant Swarup say?

“India stands to benefit most in sectors like pharmaceuticals, organic chemica

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