Efta

Switzerland govt submits EFTA-India trade agreement to Parliament

In 2018, after EFTA and Indonesia signed an FTA, a Swiss non-government organisation Public Eye highlighted deforestation in Indonesia for palm tree cultivation as well as the death of orangutans

India-EFTA trade deal: Swiss Federal Council begins ratification process

Switzerland's federal cabinet has adopted the ambitious trade pact between India and the European Free Trade Association (EFTA) and placed it before Parliament as part of the ratification process. The ambitious trade pact, signed in March between India and the European bloc comprising Norway, Switzerland, Iceland and Liechtenstein, aims at expanding trade across a range of areas, including pharmaceuticals, manufacturing, new technologies and machinery. Under the mega trade deal, the four European countries are looking at making an investment of USD 100 billion in India over the next 15 years. Each of the signatory countries will have to ratify the pact for its roll out. On Wednesday, the Federal Council adopted a dispatch on the free-trade agreement between the EFTA states and India, the Swiss government said in a statement. The Federal Council, which is the Swiss federal cabinet, is the highest executive authority in the country. The Swiss Parliament is expected to debate the ..

Net FDI in India down 38.4% in April-January: RBI's March 2024 bulletin

FDI into India is expected to receive a boost from the Trade and Economic Partnership Agreement (TEPA) signed with the European Free Trade Association (EFTA) on 10 March 2024

TEPA with EFTA - welcome but no big deal

The EFTA's market access offer covers 100 per cent of non-agricultural products and tariff concessions on processed agricultural products

India embraces trade deals as cos look beyond China for alternatives

Prime Minister Narendra Modi's government is taking advantage of India's growing appeal as the world's fastest-growing major economy and an alternative to China for global supply chains

India limits market access in financial services to EFTA countries

The FTA text says the opening of branches by foreign banks in branch or wholly-owned subsidiary (WOS) mode shall also be subject to the requirements

India, EFTA trade pact will push growth of domestic wine industry: CIABC

Alcoholic beverages makers' body CIABC on Monday said the free trade agreement between India and four European nation bloc EFTA will help push the growth of the domestic wine industry. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway and Switzerland. The Confederation of Indian Alcoholic Beverage Companies (CIABC) Director General Vinod Giri said that time-bound reduction of customs duties on an equitable and sustainable level will support the domestic industry. As per the documents of the agreement, duty concessions on wine are similar to those given to Australia, with no concessions for wines costing less than USD 5. Wines priced between USD 5 and less than USD 15 will see a duty reduction from 150 per cent to 100 per cent in the first year, then decreasing gradually to 50 per cent over 10 years. For wines costing USD 15 or more, he said, the initial duty cut is from 150 per cent to 75 per cent, eventually reducing to 25 per cent after 10 ...

Govt can withdraw duty concessions if EFTA doesn't invest $100 billion

India will have the option of temporarily withdrawing customs duty concessions on EFTA country goods under the trade agreement between the two sides, if the four European nation bloc would not fulfil its USD 100 billion investment obligations. Though the investments have to flow in 15 years -- USD 50 billion in the first 10 years (counted after implementation of the pact) and another USD 5 billion in next five years, the trade deal also provides for a three-year grace period to the EFTA bloc to meet the obligations, according to the documents accompanying the agreement. India and four-nation European Free Trade Association (EFTA) bloc signed Trade and Economic Partnership Agreement (TEPA) on March 10 under which New Delhi received a foreign direct investment commitment of USD 100 billion in 15 years from the member countries of the grouping. The EFTA members are Iceland, Liechtenstein, Norway, and Switzerland. There is a three-stage government-to-government consultation process ...

India can reverse mkt access to EFTA if FDI commitments not met: Artieda

$100 billion FDI is a massive number. It took my breath away, said Swiss State Secretary for Economic Affairs Helene Budliger Artieda

Will get duty-free access to India for selected agri products: Switzerland

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, EFTA ink free trade agreement; $100 bn investment target in 15 yrs

The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland

India, four-nation EFTA set to sign free trade agreement on Sunday

India and the four-nation European bloc EFTA will sign a free trade agreement on Sunday with an aim to boost two-way trade in goods, services and investments, an official said. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland. The pact received approval from the Union Cabinet on March 7, the official said. India and EFTA have been negotiating the pact, officially dubbed as Trade and Economic Partnership Agreement (TEPA), since January 2008 to boost economic ties. The agreement has 14 chapters, including trade in goods, rules of origin, intellectual property rights (IPRs), trade in services, investment promotion and cooperation, government procurement, technical barriers to trade, and trade facilitation. EFTA has 29 free trade agreements (FTAs) with 40 partner countries, including Canada, Chile, China, Mexico, and Korea. Under free trade pacts, two trading partners significantly reduce or eliminate customs duties on the maximum

India bargaining hard with EFTA countries for creation of 1 million jobs

EFTA comprises four nations - Iceland, Switzerland, Norway, and Liechtenstein

Govt rejects EFTA's data exclusivity demand to protect generic drug cos

Commerce secretary Sunil Barthwal on Thursday said that there is no free trade agreement (FTA) in which India will go against the generic drug industry

Here to enhance partnership between EFTA, India: Norway's trade minister

The European Free Trade Association is a trade organisation and free trade area consisting of four European states- Iceland, Liechtenstein, Norway and Switzerland

Piyush Goyal discusses progress of FTA deal during EFTA delegation meet

The primary objective of these negotiations is to establish a "fair, mutually beneficial, and comprehensive" trade deal between India and EFTA

EFTA looking at reduction in trade barriers on pharma in pact with India

Four-nation bloc EFTA is looking at significant reduction in trade barriers on sectors such as machine tools, advanced chemicals, pharma, chocolates, Norwegian and Icelandic fish in the proposed free trade agreement with India, a Swiss minister said. Swiss State Secretary for Economic Affairs Helene Budliger Artieda also said that with India, the EFTA grouping is aiming for an ambitious and comprehensive agreement in trade in goods, services and protection of intellectual property rights (IPRs). India and European Free Trade Association (EFTA) states Iceland, Liechtenstein, Norway, and Switzerland - are negotiating a Trade and Economic Partnership Agreement (TEPA) with a view to boosting economic ties between the two regions. Negotiations on the agreement were officially launched in January 2008. 13 rounds of negotiations were held until autumn 2013 before the talks were put on hold. After talks were resumed in October 2016, a number of rounds have taken place. Regarding trade in

India, EFTA agree for early conclusion of talks for free trade agreement

India and the four-nation bloc EFTA have agreed for early conclusion of negotiations for a free trade agreement, which aims at increasing economic ties between the countries, the commerce ministry said on Wednesday. India and European Free Trade Association (EFTA) states -- Iceland, Liechtenstein, Norway, and Switzerland -- are negotiating the Trade and Economic Partnership Agreement (TEPA). Commerce and Industry Minister Piyush Goyal held discussions on the progress of the agreement with a delegation from the European Free Trade Association, led by the Swiss State Secretary for Economic Affairs, Helene Budliger Artieda, in London on July 11 and 12. Helene Budliger Artieda was also accompanied with the industry stakeholders from pharmaceutical, machinery and electronics of EFTA states. "The deliberations between the minister Piyush Goyal and state secretary Helene Budliger Artieda were fruitful and detailed discussions on crucial issues, with the shared goal of swiftly concluding t

EFTA, India aim at building on existing work: Helene Budliger Artieda

EFTA received this proposal from India with an open and positive mind, says Swiss State Secretary for Economic Affairs Helene Budliger Artieda

India, EFTA member countries discuss resumption of talks for trade pact

India and the four-nation bloc EFTA on Wednesday discussed ways to resume negotiations for a free trade agreement with a view to strengthening economic ties between the two regions. The subject came up for discussion during a meeting of high-level representatives from India and the European Free Trade Association (EFTA) states (Iceland, Liechtenstein, Norway, and Switzerland) here. Both sides "discuss the prospects of resuming their negotiations towards a Trade and Economic Partnership Agreement (TEPA)," the commerce ministry said in a statement. Free trade agreements between the two regions are officially dubbed TEPA. Under such pacts, two trading partners significantly reduce or eliminate customs duties on the maximum number of goods traded between them, besides easing norms to promote trade in services and investments. The high-level delegations were composed of Commerce and Industry Minister Piyush Goyal; Jan Christian Vestre, Minister of Trade and Industry of Norway; Helene ..