EFTA FDI May Catalyse $500bn Proposals, Says Goyal

The Launch of EFTA Dedicated Desk Is Expected to Support EFTA Cos Looking to Expand in India

- Press Trust of India

NEW DELHI: Commerce and industry minister Piyush Goyal on Monday said the $100 billion FDI commitment made by EFTA bloc under a free trade agreement could help in catalysing as much as $400-500 billion investment proposals in the Indian ecosystem. The pact, officially dubbed as Trade and Economic Partnership Agreement (TEPA), is expected to come into force by the end of this year, he said.

The EFTA (European Free Trade Association) members are Iceland, Liechtenstein, Norway, and Switzerland.

"With this $100 billion FDI, I personally believe that we could be catalysing overall investments of may be $400 or $500 billion in the Indian ecosystem," Goyal said here after the launch of EFTA Dedicated Desk.