Setting an ambitious trajectory of growth in trade and economic relations with a Trade and Economic Partnership Agreement (TEPA) with the European Free Trade Association on Sunday, India has achieved a binding commitment of USD 100 FDI, a window to Indian exporters to access large European and global markets and an impetus to 'Make in India' by encouraging domestic manufacturing in sectors such as infrastructure and connectivity, manufacturing, machinery, pharmaceuticals, chemicals, food processing, transport and logistics, banking and financial services and insurance.
The deal with EFTA --comprising Switzerland, Iceland, Norway & Liechtenstein - an 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, follows approval by the Union Cabinet chaired by Prime Minister Narendra Modi and marks the most substantial gains ever by India in the history of its free trade agreements. As per the deal, the EFTA will promote investments with the aim to increase the stock of foreign direct investments by USD 100 billion in India in the next 15 years. The investments do not cover foreign portfolio investment.
For the first ever time in the history of FTAs, a legal commitment is being made about promoting target-oriented investment and creation of jobs.
This story is from the March 11, 2024 edition of The Daily Guardian.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the March 11, 2024 edition of The Daily Guardian.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
ECI delegation in Jharkhand to review poll preparedness
A delegation of the Election Commission of India led by Chief Election Commissioner Rajiv Kumar arrived in Ranchi on Monday to review poll preparedness for assembly elections in Jharkhand expected to be held later this year.
Tirupati Prasadam row: BJP's TN unit urges Andhra govt to take action to restore trust
The BJP's Tamil Nadu unit on Monday urged the Andhra Pradesh government to take swift action to restore the trust of the devotees of Tirumala Venkateshwara Temple following the laddu prasadam controversy.
West Bengal BJP leaders stage protest, demand justice for RG Kar incident
West Bengal BJP leaders on Monday staged a protest outside the DC north office demanding justice in the RG Kar Medical College and Hospital rape-murder incident.
SC urges Parliament to amend POCSO Act to rename 'child pornography'
The Supreme Court on Monday urged the Parliament to bring a law amending the Prevention of Children from Sexual Offences (POCSO) Act to replace the term \"child pornography\" with \"child sexual exploitative and abusive material.
Apex court lists hearing on RG Kar rape-murder case for Sept. 30
The Supreme Court on Monday listed for September 30 the hearing on a suo motu petition on the rape and murder of a doctor in the state-run RG Kar Medical College and Hospital in Kolkata, West Bengal.
Farooq Abdullah urges support for Congress-NC alliance
National Conference (NC) chief Farooq Abdullah urged people to vote for the Congress-NC alliance in the ongoing Jammu and Kashmir Assembly elections, emphasizing that the contest is not about religion but about action.
Rahul Gandhi Criticizes PM Modi, Calls for Restoration of J&K Statehood
Leader of the Opposition and senior Congress leader Rahul Gandhi launched a scathing attack on Prime Minister Narendra Modi today, accusing him of ignoring critical issues in Jammu and Kashmir while engaging in rhetoric through his \"Man ki Baat\" broadcasts.
Mayawati slams Congress for marginalising Dalit leaders
In the midst of an escalating political controversy surrounding the alleged sidelining of senior Congress Dalit leader Kumari Selja in Haryana, Bahujan Samaj Party (BSP) supremo Mayawati launched a scathing attack on the Congress, accusing it of using Dalit leaders for political expediency.
Union Minister Bittu criticises Rahul, highlights respect for Sikhs as 'Sardar Ji
Following Rajasthan Congress president Govind Singh Dotasara's warning, Minister of State for Railways Ravneet Singh Bittu arrived in Jaipur on Monday.
J&K: OVER 25 LAKH VOTERS TO DECIDE FATE OF 239 CANDIDATES IN 2ND PHASE POLLS
Poonch district, with three constituencies, has 3,52,330 voters facilitated by 483 polling stations, while Reasi has 2,37,205 voters and 436 polling stations.