Govt seeks service in EFTA inclusion trade deal
Financial Express Mumbai|January 31, 2024
INDIA HAS SOUGHT investment commitments from Switzerland under the proposed free trade agreement with the four-nation EFTA bloc, a top government official said on Tuesday.

The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland.

The official also said negotiations for the pact are at an advanced stage and both sides are trying to conclude it fast.

The investment commitment would help India balance Switzerland's decision to remove customs duties on most of its goods.

When asked if this move would have an implication on the agreement, the official said that it can be bargained against many other things. "We have told them that we will be requiring commitments on investments so that this zero duty on goods can balance more investments and more manufacturing in the country," the official said.

The Indian negotiators are also trying to see how the Swiss companies can come and manufacture in India so that it gives a boost to Make in India programme and also helps in raising the domestic manufacturing power.

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