Narendra Modi announces India's 1st FTA with EFTA, $100B forecast
Business
Prime Minister Modi revealed a trade agreement between India and the European Free Trade Association (EFTA).
This is India's first FTA with any economic bloc in Europe, and it's expected to bring in $100 billion in investments and create 1 million direct jobs over the next 15 years.
The announcement came after his meeting with Swiss President Guy Parmelin.
India-Switzerland deal covers research mobility trade
The agreement opens doors for collaboration on AI, health, clean energy, and space research.
It also makes it easier for Indian professionals to work in Switzerland and includes military exchanges.
Plus, Indian exports, especially agriculture and textiles, will get better access to Switzerland, while Swiss investment is set to grow in areas like biotech and life sciences.