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India signs landmark free trade agreement with European bloc

India signs landmark free trade agreement with European bloc

India has signed the Trade and Economic Partnership Agreement (TEPA) with the European Free Trade Association (EFTA) in New Delhi on Sunday. The deal was signed in the presence of Minister of Commerce and Industry Piyush Goyal. Addressing the gathering, Goyal said that under this agreement, EFTA nations will invest 100 billion dollars in India, creating many employment opportunities in different sectors.He added this TEPA brings optimism as it reflects a trusted and efficient partnership with accountability. He thanked the partner countries for being part of this agreement, these countries include- Iceland, Liechtenstein, Norway, and Switzerland.

Prime Minister Narendra Modi on Sunday congratulated the negotiators and signatories on the signing of the Trade and Economic Participation Agreement (TEPA) between India and the European Free Trade Association (EFTA), saying that despite structural diversities in many aspects, "our economies possess complementarities that promise to be a win-win situation for all nations". PM Modi also commended the culmination of efforts to finalise an innovative, wellbalanced trade deal that reflects our respective developmental aspiration.

 

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