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India inks ‘watershed' $100 billion free trade deal with four non-EU nations

·1 min

India has signed a free trade agreement with Switzerland, Iceland, Norway, and Liechtenstein. As part of the deal, India will lift most tariffs on these European countries. The agreement is expected to bring significant benefits to India, including $100 billion worth of investment over 15 years and the creation of 1 billion jobs in the country. This trade agreement is seen as a crucial development ahead of India’s upcoming general elections. The deal will boost India’s key exports in sectors such as IT services, business services, and audio-visual services. It also includes provisions for mutual recognition in professional services.