PM Modi’s Norway visit is expected to boost India’s Nordic outreach, with trade, investment, AI cooperation and EFTA implementation dominating the diplomatic agenda.
Goyal was speaking at the World Forum of Accountants organised by the Institute of Chartered Accountants of India (ICAI) in Greater Noida.
The TEPA promises to unlock $100 billion in investments and create 1 million direct jobs in India over the next 15 years.
India’s new trade agreement with the European Free Trade Association (EFTA) marks a quiet but significant evolution in the country’s approach to global commerce.
The occasion was marked by a high-level event in New Delhi hosted by Commerce Minister Piyush Goyal. Swiss State Secretary for Economic Affairs Helene Budliger Artieda represented Switzerland.
The agreement was signed on 10 March 2024 in New Delhi. TEPA is a modern and ambitious agreement that incorporates, for the first time in any Free Trade Agreement (FTA) signed by India, a commitment linked to investment and job creation.
“Finance Minister Nirmala Sitharaman had a productive discussion with Ms. Helene Budliger Artieda, Swiss State Secretary for Economic Affairs in New Delhi
Speaking on behalf of the EFTA Member States at the signing ceremony, Federal Councillor Guy Parmelin stated that “EFTA countries gain market access to a major growth market.
It reflects the determination to forge strong and mutually beneficial trade relationships that will not only benefit the economies of both India and the UK but also contribute to the overall prosperity and welfare of their respective citizens.
At a ministerial meeting held in Brussels on TEPA between India and EFTA both sides emphasised on principles of trust and respect for each other's sensitivities to achieve a fair, equitable and balanced agreement.
