India, EFTA may finalise $100 bn trade deal soon

Negotiations between India and the European Free Trade Association (EFTA) for a trade deal are at an advanced stage, with the two sides hoping to finalise the agreement with a commitment by the European partners to invest up to $100 billion before India goes to the polls, people familiar with the matter said.

- Rezaul H Laskar & Rajeev Jayaswal

EFTA members Iceland, Liechtenstein, Norway and Switzerland are looking to ensure further progress on the proposed Trade and Economic Partnership Agreement (TEPA) on the margins of the Raisina Dialogue this week, which will be attended by officials of at least three of these countries, the people said on condition of anonymity.

The two sides are ironing out issues so that the deal can be signed soon, an official with direct knowledge of the matter said. Prospects for an early conclusion had brightened after the 21st round of negotiations in New Delhi during January 8-13, a second official said.