INDIA EYES $100,000 M INVESTMENT DEAL WITH SWITZERLAND, NORWAY

The proposed investment from EFTA countries is expected to generate over 1 million jobs in India

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India is nearing the finalization of a groundbreaking trade agreement that could result in a small group of European nations investing up to $100 billion over 15 years in return for streamlined trade access to the world’s most populous country, according to sources familiar with the situation. The European Free Trade Association, comprising Switzerland, Norway, Iceland, and Liechtenstein, has committed to investing in India as part of an impending trade deal nearing completion, said the sources, who requested anonymity as negotiations are still in progress.

The framework of the agreement has been established, with current discussions focusing on determining the final investment sum, which could reach $100 billion over the span of 15 years, some sources indicated. While India is pushing for the commitment to be legally binding, a European official mentioned that the amount might be presented as a target, lacking legal avenues for enforcement within the agreement’s language.