Switzerland's Landmark Trade Deal with India Opens New Horizons
Switzerland has ratified the Trade and Economic Partnership Agreement (TEPA) with India, marking a milestone in bilateral trade relations. The deal, encompassing significant investment and job creation, facilitates improved trade through reduced tariffs and streamlined customs, strengthening Indo-Swiss cooperation across various sectors.
- Country:
- India
Switzerland has ratified a groundbreaking trade deal with India and the European Free Trade Association (EFTA) that promises to cut trade barriers, opening India's market wider to Swiss exports. The agreement is a significant milestone in Swiss-Indian bilateral relations, according to Swiss Ambassador to India Maya Tissafi.
The Trade and Economic Partnership Agreement (TEPA) is set to activate in October, with EFTA states planning a USD 100 billion investment in India over 15 years. The agreement aims to enhance cooperation with reduced tariffs, improved customs procedures, and sustainable trade practices.
The TEPA facilitates not only economic ties but also collaboration in education, innovation, and environmental projects. With over 330 Swiss companies in India, the deal underscores ongoing economic partnerships and paves the way for further investments, as highlighted during Commerce Minister Piyush Goyal's recent visit to Switzerland.
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- Switzerland
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- trade deal
- TEPA
- EFTA
- investment
- economy
- bilateral relations
- exports
- job creation
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