India and the European Free Trade Association countries of Switzerland, Norway, Iceland and Liechtenstein have signed an EFTA Trade and Economic Participation Agreement (TEPA) on Sunday with a promise of $100 billion in investments.
The five countries including India have come together to close a deal that was 15 years in the making, marking a ‘big opportunity for businesses from pharma, medical devices, food, R&D,’ accoridng to Commerce and INdustry Minister Piyush Goyal
Speaking at the signing of the trade pact Goyal noted that the deal ensured robust and mature Intellectual Property rights were woven into the trade and investment deal with EFTA nations.
“Demand, Democracy and Diversity will reflect the potential in India and this deal is expected to create 1 million (10 lakh) jobs in the next 15 years,” Goyal stated during the signing of the pact adding that India would benefit in terms of investment, innovation and R&D.
