EFTA-India Pact: A New Dawn for Investment Relations
Switzerland's State Secretary for Economic Affairs, Helene Budliger Artieda, advocated for a bilateral investment treaty with India following the EFTA nations' USD 100 billion investment commitment under a new trade agreement. The treaty aims to protect and promote investments while enhancing India's attractiveness as a global manufacturing hub.
- Country:
- India
The Swiss State Secretary for Economic Affairs, Helene Budliger Artieda, on Wednesday emphasized the importance of a bilateral investment treaty with India, in light of a USD 100 billion investment pledge made by EFTA nations under a recently activated trade pact.
The EFTA, comprising Iceland, Liechtenstein, Norway, and Switzerland, signed a landmark free trade agreement with India, effective Wednesday. This pact promises significant investments over the next 15 years while offering reduced duties on commodities like Swiss watches and chocolates.
Amidst ongoing negotiations for bilateral investment treaties with multiple countries, India's economic strategy aims to enhance its investment landscape, positioning the nation as a forthcoming hub for global manufacturing and an attractive destination for foreign investors.
(With inputs from agencies.)
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