New Delhi [India], The Indian government has offered 82.7 per cent of its tariff lines, covering 95.3 per cent of EFTA exports, a reduction in customs duties on goods from EFTA countries, such as Swiss cheese, chocolate, wine, watches. Will make. And other products are more affordable for consumers in India. Additionally, India has provided concessions in 105 sub-sectors such as IT, healthcare and accounting, which is expected to boost exports of its services to EFT countries. The agreement is set to encourage India's exports of services to those sectors. The country has major strengths including IT, business, personal, cultural, sports-entertainment, educational and audio-visual services.This will help EFTA countries to confidently expand their operations in India with the support of favorable policy measures and concessions. A distinctive aspect of the India-EFTA trade agreement is EFTA's binding commitment to invest US$100 billion in India over the next 15 years. These investments will focus on manufacturing sectors such as chemicals, pharmaceuticals, machinery and food processing – key Indian export industries. They will also expand to service exports like IT. The trade agreement is expected to enhance India's manufacturing and services infrastructure, boost innovation, create jobs and upskill the workforce.It aims to promote domestic manufacturing in sectors such as infrastructure connectivity, machinery, pharmaceuticals, chemicals, transportation. , logistics banking, financial services and insurance Additionally, it provides Indian companies a gateway to the EU market, especially through Switzerland, which exports more than 40 percent of its global services to the EU. Is. This agreement is set to strengthen India's trade relations with Europe. Improved market access for both India and EFTA members The EFTA bloc has now secured an FTA with India, giving it access to a growing market that is projected to become the world's fifth largest consumer market by 2025. For India, the deal provides access to Europe.Particularly for manufacturers and exporters in food processing, pharmaceuticals and organic chemicals, EFTA has provided Indian exporters access to 92.2 per cent of its tariff lines, 100 per cent market access for non-agricultural products and significant tariff concessions on processed agricultural products (PAPs). Is offered. The trade deal prioritizes tariff reduction and simplification of trade procedures between India and EFTA, particularly targeting high-value commodities such as fish, advanced chemicals, pharmaceuticals, machine tools and Swiss chocolate from Iceland and Norway. EFTA countries can now export processed foods, electricity. Machinery, an engineering item for a huge market of 1.4 billion people at low tariffs. Along with this, India seeks foreign investment from EFTA countries that are manufacturing and other European countries to avail the benefits of the EFTA block for better market access. Aim to. The trade agreement is expected to increase foreign investment.This flow of investments, investment and job creation from EFTA nations, leveraging funds such as the Norwegian Sovereign Wealth Fund and Switzerland's established business interests in India, is expected to boost India's economy and provide revenue stability. Furthermore, the agreement is anticipated to increase bilateral trade in technology. and knowledge within the manufacturing sector, which includes pharmaceuticals food processing and automobiles India signed a free trade agreement with the European Free Trade Association (EFTA) on March 10, concluding 21 rounds of negotiations spanning 15 years. The deal is set to fetch US$100. Billions of rupees will be invested in India in the next 15 years and millions of direct jobs will be created.As part of the deal, India has opened up 105 sub-sectors to EFTA and secured commitments in 128 sub-sectors from Switzerland, 114 from Norway, 107 from Liechtenstein and 110 sub-sectors from Iceland. With a combined population of 13 million, the EFTA countries are the world's tenth largest traders of goods and eighth largest providers of commercial services. The trade deal represents a significant progress in India's efforts to diversify its global trade partnerships and grow its exports. Competencies, foreign investment and supply chain flexibility Established in 1960, EFTA is an intergovernmental organization comprising Iceland, Liechtenstein, Norway and Switzerland, dedicated to promoting economic cooperation and free trade across Europe.