The India-European Free Trade Association trade pact that comes into effect from today is expected to boost not just the country’s foreign trade but also confidence of exporters, who have been grappling with the high tariffs imposed by the US.

With India working on multiple free trade agreements (FTAs), the operationalisation of this trade pact will help diversify its export markets, and policy watchers said will be a feel-good factor. Advertisement

The Trade and Economic Partnership Agreement (TEPA) between India and the four-nation bloc of Switzerland, Norway, Lichtenstein and Iceland, which was signed in March last year after over 16 years of discussions, includes for the first time a commitment linked to job creation and investments with the aim to facilitate $100 billion of FDI in

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