Brief by Shorts91 Newsdesk / 01:07pm on 07 Mar 2024,Thursday Business
India's Union cabinet is set to review an agreement with the European Free Trade Association (EFTA), possibly announcing the first formal free trade deal on Sunday. The deal includes duty-free access for India's animal products, fish, processed food, and vegetable oils. EFTA nations - Iceland, Liechtenstein, Norway, and Switzerland - propose a $100 billion investment in India, potentially creating a million jobs. The agreement, under negotiation since 2008, offers immediate duty elimination on 40% of trade lines. Experts anticipate gains in services and investment, marking a significant achievement for India if the plan proceeds.
