The deal, which marks a significant incremental step in the long-standing relationship between India and the EFTA states (which include Switzerland, Iceland, Norway and Liechtenstein), is also a major step forward for India in its approach to bilateral trade agreements.
The chapter on investment promotion and cooperation (Investment Chapter) in the TEPA is a first-of-its-kind, wherein a partner country has undertaken a unilateral commitment towards promoting foreign direct investment (FDI) and facilitating job creation in India by a certain specified quantum. The commitment from EFTA is to promote investments to increase the FDI stock from EFTA countries in India by $50 billion over the first 10 years and another $50 billion in the following five years. Additionally, it will aim to create one million direct jobs in India through such investments.
In the same spirit, India and the EFTA states have also agreed to cooperate on skill development, vocational and professional training, and technology collaboration in areas of mutual interest. These include, for example, earth science, telemedicine, STEM (science, technology, engineering and mathematics), healthcare, biotechnology, digital technology, renewable energy, clean technology and sustainable metal making.
Denne historien er fra March 23, 2024-utgaven av Business Standard.
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Denne historien er fra March 23, 2024-utgaven av Business Standard.
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Indians prefer credit over debit card for high-value payments
In June 2024, India saw a significant increase in the number of credit, debit, and prepaid cards, reaching a total of 1.451 billion cards—an 11 per cent jump from the previous year, according to the India Digital Payments report for the first half of 2024 (January to June) by payment technology service provider Worldline.
An Indian anthropologist ahead of her time
Urmilla Deshpande set out to work on a novel about an Indian woman in Germany in the 1920s based on her grandmother Irawati Karve when she stumbled on the opportunity to write her biography.
IAF plane makes inaugural landing at upcoming Navi Mumbai airport
An Airbus C-295 of the Indian Air Force (IAF) touched down at Navi Mumbai International Airport (NMIAL) on Friday, marking the formal inaugural flight landing at the place. A Sukhoi SU-30 fighter jet did a low fly-by at the airport to test the 3.7-km long runway in the presence of Maharashtra Chief Minister Eknath Shinde, his deputy Devendra Fadnavis and Murlidhar Mohol, Minister of State for Civil Aviation and Co-operation.
Less than 33% of youth can search Net, transact online
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TCS shares dip as analysts offer mixed outlook
IT sector is expected to grow considerably from Q4 FY25 onwards
NSE retains Nifty 50 for weekly contracts
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Compare lenders' costs; higher rates can offset benefits of offers
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Noel's appointment as Tata Trusts' chair signals continuity: Analysts
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Sebi intervenes in ₹45cr Trafiksol IPO irregularity
To undertake detailed examination into disclosures by the firm
India-focused funds log first weekly redemption in 19 mths
China resurgence, expensive valuation dim India appeal; midcap funds see 14th week of outflows
