Ties are getting stronger between India and some European economies in the form of a new free trade agreement and enormous investment plans.
Sixteen years of negotiations are coming to an end as India is concluding a first-of-its-kind trade agreement with Switzerland, Norway, Iceland and Liechtenstein, reported Bloomberg.
These countries form the European Free Trade Association (EFTA), which agreed to invest in India as part of a free trade deal, in exchange for easier access to the world’s most populous nation, a market of 1.4 billion people.
The unusual feature of this Free Trade Agreement (FTA) is that it comes with investment guarantees, however, how binding they are, is still a question for the final talks.
According to the report, citing sources with knowledge of the matter, the final amount could be as much as $100 billion for the next 15 years….