India and the European Free Trade Association (EFTA) have signed a free trade agreement (FTA) to integrate and strengthen supply chains, attract investments and generate new business opportunities, a statement released by the Indian government said on Monday, March 11.
The EFTA comprises Iceland, Liechtenstein, Norway and Switzerland.
The EFTA has also made a binding commitment to invest $100 billion in India and create one million direct jobs in the next 15 years.
India will lift, or partially remove, very high customs duties on 95.3 percent of industrial imports from Switzerland, excluding gold, either immediately or over time, the Swiss government said in a statement.