INDIA-EUROPEAN FREE TRADE ASSOCIATION (EFTA) SIGNS TRADE AND ECONOMIC PARTNERSHIP AGREEMENT (TEPA)

The Union Cabinet chaired by the Hon’ble Prime Minister has approved signing of the TEPA with EFTA States. EFTA is an inter-governmental organization set up in 1960 for the promotion of free trade and economic integration for the benefit of its four Member States.

- Dr S.P Sharma

The highlights of the agreement are: 

EFTA has committed to promote investments with the aim to increase the stock of foreign direct investments by USD 100 billion in India in the next 15 years, and to facilitate the generation of 1 million direct employment in India, through such investments.

For the first ever time in the history of FTAs, a legal commitment is being made about promoting target-oriented investment and creation of jobs.