The free trade agreement between India and the four European nation bloc EFTA will help boost trade and investments in the country in sectors such as engineering, pharma, food processing, and apparel, says the industry.
India on Sunday signed a Trade and Economic Partnership Agreement (TEPA) with the European Free Trade Association (EFTA) under which New Delhi received a USD 100 billion investment commitment from these four European countries.
The investment commitment by the companies of the grouping – Switzerland, Norway, Iceland and Liechtenstein – would be executed over a period of 15 years and facilitate creation of one million direct jobs in India.
Industrialist and Tirupur Exporters Association President A Sakthivel said that the pact would help promote two-way commerce and help Indian apparel exporters increase their shipments.
“The investment commitment will boost domestic manufacturing,” Sakthivel said.
Industry body CII President R Dinesh said that the “unique” pledge b

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