Switzerland on Sunday said it will get duty-free access to the Indian market for selected agricultural products after a transition period of up to ten years under the trade agreement signed between India and EFTA.
India on Sunday signed the Trade and Economic Partnership Agreement (TEPA) with the European Free Trade Association (EFTA) under which New Delhi received an investment commitment of USD 100 billion from these four European countries.
EFTA members are Switzerland, Norway, Iceland and Liechtenstein.
“India is now the most populous country in the world. The growing middle class in particular is contributing to major growth potential. However, India currently levies very high import tariffs on most products,” Switzerland said in a statement.
Under the FTA, India will lift or partially remove customs tariffs on 95.3 per cent of industrial imports from Switzerland (excluding gold) either immediately or with transition periods, it added.
Swiss Federal Councillor Guy Parmelin an
India on Sunday signed the Trade and Economic Partnership Agreement (TEPA) with the European Free Trade Association (EFTA) under which New Delhi received an investment commitment of USD 100 billion from these four European countries.
EFTA members are Switzerland, Norway, Iceland and Liechtenstein.
“India is now the most populous country in the world. The growing middle class in particular is contributing to major growth potential. However, India currently levies very high import tariffs on most products,” Switzerland said in a statement.
Under the FTA, India will lift or partially remove customs tariffs on 95.3 per cent of industrial imports from Switzerland (excluding gold) either immediately or with transition periods, it added.
Swiss Federal Councillor Guy Parmelin an
