India has signed a Landmark Trade agreement with the European Free Trade Association (EFTA), marking one of the most ambitious deals in recent years. The pact aims to bring massive tariff reductions, a $100 billion investment pipeline, and new opportunities for services, exports, and employment.
What is TEPA with EFTA?
The agreement, formally called the Trade and Economic Partnership Agreement (TEPA), was signed between India and the four EFTA nations—Switzerland, Norway, Iceland, and Liechtenstein. This India trade partnership is designed to deepen economic ties by reducing barriers and expanding market access.
Major tariff reductions promised on Landmark Trade
One of the central features of this Landmark Trade deal is tariff reduction across multiple goods. India will lower duties on key imports while gaining access for its exports in high-value markets, giving domestic industries a chance to scale globally.
$100 billion investment deal
The EFTA bloc has committed to channeling $100 billion into India over the next 15 years. This funding will be targeted at manufacturing, technology, and infrastructure, directly supporting India’s economic growth strategy and export growth India vision.
Services sector gains access
The pact not only covers goods but also ensures greater mobility and opportunities for Indian professionals. With wider access to EFTA markets, sectors like IT, healthcare, and engineering will benefit, making this India trade partnership truly comprehensive.
Impact on ‘Make in India’ push
By opening investment opportunities and enhancing export capacity, the Landmark Trade pact aligns perfectly with the government’s ‘Make in India’ campaign. Increased global demand will allow Indian manufacturers to expand their reach and efficiency.
Jobs export boost ahead
The deal is expected to create millions of new jobs by boosting trade volumes and driving industrial expansion. By combining tariff cuts, service access, and long-term investments, the Landmark Trade agreement is seen as a catalyst for future export growth India targets.
Final Takeaway
India’s Landmark Trade pact with the EFTA nations under TEPA signals a new chapter in global partnerships. With a $100 billion investment commitment, stronger services linkages, and fresh opportunities for exporters, this agreement has the potential to transform India’s economic landscape.
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Sources: Gk Today
