Key Points
India has signed a significant trade and economic partnership agreement with the European Free Trade Association (EFTA), comprising Iceland, Liechtenstein, Norway, and Switzerland, aiming to boost trade and investments between the two regions..
One of the major benefits of this trade pact is the phased-out custom duties on imported goods, which will enable domestic consumers to access high-quality Swiss products such as watches, chocolates, biscuits, and clocks at lower prices..
The agreement includes tariff concessions on a range of products imported from Switzerland, including seafood, mediterranean fruits, coffee, oils, sweets, processed foods, and wine, among others..
This trade and economic partnership agreement between India and the EFTA countries is expected to significantly enhance bilateral trade and investments, benefiting both regions and fostering closer economic ties...
Overall, the India-EFTA trade pact is expected to significantly benefit Indian consumers by making high-quality Swiss products more affordable and accessible..
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