A free trade agreement between India and the European Free Trade Association (EFTA) will take effect on Wednesday with the commitment of $100 billion foreign direct investment in India in 15 years. The pact, officially known as Trade and Economic Partnership Agreement (TEPA), was signed on March 10 last year in New Delhi with EFTA, comprising Switzerland, Norway, Iceland and Liechtenstein.

Spanning 14 comprehensive chapters, TEPA covers tariff reductions, services liberalisation, intellectual property rights and sustainable development. On trade, EFTA has opened 92.2 per cent of its tariff lines, covering 99.6 per cent of India's exports, with full duty elimination on non-agricultural products and concessions on processed agricultural goods. India has reciprocated by liberalising 82.7 per

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