Switzerland Eases Norms to Implement FTA with India

Pact signed in March 2024, to take effect on Oct 1

- FE BUREAU

SWITZERLAND, THE BIGGEST economy of the four-nation European Free Trade Association (EFTA), has adopted all the necessary regulatory amendments to implement the customs concessions agreed in the trade agreement with India.

The agreement that was signed in March 2024, will become operational from October 1. Other members of the EFTA are Norway, Iceland and Liechtenstein. The biggest trade partner for India within the bloc is Switzerland with a large trade of gold.

According to a statement by the Swiss government, for the first time India has enshrined legally binding provisions in the area of trade and sustainable development in a free trade agreement (FTA).