The India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA) came into effect from today. The agreement was signed on the 10th of March last year in New Delhi. TEPA is India’s FTA with four developed European nations including Iceland, Liechtenstein, Norway, and Switzerland. The Ministry of Commerce and Industry, in a statement, said that agreement offers binding commitment of 100 billion US dollar investment in India in the next 15 years. It will also facilitate generation of one million direct jobs through such investment.
Speaking exclusively to Akashvani, Dr. Ranjeet Mehta, CEO and Secretary General of the PHD Chamber of Commerce and Industry, highlighted the benefits of the India-EFTA agreement for exporters.