EFSAS comments on India’s $100 billion trade deal with 4-nation EFTA
March 15, 2024
The conclusion of the trade deal was a long awaited development both for India and the EFTA, which is an inter-governmental organization set up in 1960 for the promotion of free trade and economic integration for the benefit of its four Member States. India is the EFTA’s fifth-largest trading partner after the EU, the United States (US), the UK and China, with total two-way trade of $25 billion in 2023, as per Ministry of Trade estimates. Among EFTA countries, Switzerland is India’s largest trading partner, followed by Norway. The agreement comes after almost 16 years of effort and 21 rounds of negotiations on a Trade and Economic Partnership Agreement (TEPA).
