NEW DELHI: The free trade agreement between India and the four-nation European bloc EFTA came into force on Wednesday, under which the country has received an investment commitment of USD 100 billion over 15 years, while lowering or removing duties on products like Swiss watches and chocolates.

The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland. It was signed on March 10, 2024.

Commerce and Industry Minister Piyush Goyal said the pact will unlock new opportunities for trade, investment and job creation, benefiting people and businesses.

"Truly a historic day, as the India-EFTA Trade and Economic Partnership Agreement (TEPA) comes into force," he said in a post on X.

Together, India and the EFTA states represent a combined GDP of abou

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