New Delhi, Oct. 1 -- The Trade and Economic Partnership Agreement (TEPA) between India and the European Free Trade Association (EFTA) comprising Switzerland, Norway and Iceland, came into effect today and is expected to reduce tariff barriers and expand India's share in key commodities in EFTA countries.
India's exports to EFTA stood at USD 72.37 million in 2024, contributing 0.41 percent of EFTA's total imports.
The agreement signed on March 10, 2024, offers binding commitment of 100 bn US Dollar investment and one million direct jobs in the next 15 years and will stimulate services exports in sectors like IT, business services, education, audio-visual etc.
It also provides Mutual Recognition Agreements in Professional Services like nur...