From October 1, India’s new trade agreement with the European Free Trade Association (EFTA) will officially come into force. The deal is not just about cheaper Swiss chocolates or watches. It carries a rare $100 billion investment commitment over 15 years, something no other Indian trade pact has ever secured.

EFTA is a four-nation bloc comprising Switzerland, Norway, Iceland and Liechtenstein. The pact, formally called the Trade and Economic Partnership Agreement (TEPA), was signed on March 10, 2024.

What changes for Indian consumers

For Indian shoppers, this is where things get tangible:

Swiss watches, chocolates, biscuits, and clocks will gradually become cheaper as India phases out customs duties over the next decade.

Wines, apparel and cut and polished diamonds will also see duty

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