Are you planning to gift your dearest and nearest with Swiss chocolates or red wine this Diwali? You will have to spend less. India has agreed to slash tariffs on Swiss chocolates, wines, Swiss knives and watches like Rolex. After New Delhi signed the Trade and Economic Partnership Agreement (TEPA) with the European Free Trade Association (EFTA), it will slash tariffs on about 85 per cent of goods coming from Switzerland, Norway, Iceland and Liechtenstein. EFTA has agreed to remove duties from about 99 per cent of Indian goods. The two sides have also agreed to invest $100bn or GBP74bn and create a million direct jobs over the next 15 years as part of the deal.

India-EFTA deal to benefit thousands of firms

Thousands of companies from both countries will benefit from the deal. About 6,000

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