New Delhi, Nov. 28 -- Union Minister of Commerce and Industry Piyush Goyal on Friday said the four-nation European Free Trade Association (EFTA) bloc has committed to invest USD 100 billion in India across innovation and precision manufacturing.

Highlighting India's cost competitiveness in research and innovation, the minister stated that high-quality innovation undertaken in India can be achieved at a fraction of the cost compared to Europe or the United States. He emphasised the need for Indian industry to move beyond legacy mindset and adopt a forward-looking and globally competitive approach.

Addressing the 98th Annual General Meeting of the Federation of Indian Chambers of Commerce and Industry (FICCI), Goyal highlighted India's st...