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India signs $100 billion free trade deal with four non-EU countries

by SuperiorInvest

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India will remove most tariffs on four European nations in a “watershed” deal expected to generate $100 billion in investments over 15 years and a billion jobs for the world's fifth-largest economy.

The trade deal with European Free Trade Association countries, which are not part of the EU, was signed ahead of the country's general elections scheduled for coming months, which could give Prime Minister Narendra Modi a third consecutive term in office. The charge.

The Indian government has finalized a number of major trade deals in recent years and an agreement with the United Kingdom is in the pipeline.

This “marks a new turn and a defining moment in the bilateral relationship between India and [European Free Trade Association] countries of Switzerland, Iceland, Norway and Liechtenstein,” said Indian Prime Minister Narendra Modi. said in comments shared on Xformerly Twitter.

India hopes this free trade agreement will boost its key exports in IT services, business services and audio-visual services, among others, said Commerce and Industry Minister Piyush Goyal.

The agreement also contains provisions for mutual recognition in professional services such as nursing, chartered accountants and architects, according to a statement from the Indian government.

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