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Switzerland greenlights India-EFTA mega trade pact; sets stage for October rollout

Economic Times

Economic Times · 1m ago

Switzerland greenlights India-EFTA mega trade pact; sets stage for October rollout

Switzerland has finalized the ratification of a major trade agreement with India and the European Free Trade Association (EFTA), which includes Iceland, Liechtenstein, and Norway. This Trade and Economic Partnership Agreement aims to reduce trade barriers, foster sustainable trade practices, and increase Swiss exports to India. Expected to be operational in October, the pact promises a USD 100 billion investment in India and aims to create one million jobs over 15 years.

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India-EFTA trade pact to be implemented from Oct 1: Goyal

Economic Times

Economic Times · 1m ago

India-EFTA trade pact to be implemented from Oct 1: Goyal

The free trade agreement between India and the European Free Trade Association (EFTA) will be implemented from October 1. This pact, signed on March 10, 2024, promises India an investment commitment of USD 100 billion over 15 years while reducing duties on products like Swiss watches and chocolates. EFTA members include Iceland, Liechtenstein, Norway, and Switzerland. This agreement aims to create 1 million direct jobs in India and strengthen trade ties with these nations.

India, EFTA trade pact to bring stability, predictability in partnership: Piyush Goyal

YourStory

YourStory · 2m ago

India, EFTA trade pact to bring stability, predictability in partnership: Piyush Goyal

The free trade agreement (FTA) between India and the European bloc EFTA aims to bring stability and predictability to businesses, according to Commerce and Industry Minister Piyush Goyal. The agreement, signed in March 2024, promises India an investment commitment of $100 billion over 15 years. It reduces duties on products like Swiss watches and diamonds. EFTA members include Iceland, Liechtenstein, Norway, and Switzerland. The pact is expected to be operational by October.

Switzerland, EFTA nations to invest USD 100 Billion in India over 15 Years says Consul General of Switzerland

Livemint

Livemint · 6m ago

Switzerland, EFTA nations to invest USD 100 Billion in India over 15 Years says Consul General of Switzerland

Switzerland and other EFTA nations plan to invest USD 100 billion in India over 15 years as part of a Trade and Economic Partnership Agreement (TEPA). Martin U Maier, Switzerland's Consul General in Mumbai, highlighted this during the Global Investors Summit in Bhopal. The initiative aims to boost economic collaboration and encourage Swiss companies to expand in India. Despite global competition, India is becoming a key hub for Swiss business activities and supply chains.

India-US trade pact talks gain momentum, says Goyal

Economic Times

Economic Times · 1m ago

India-US trade pact talks gain momentum, says Goyal

Commerce and Industry Minister Piyush Goyal announced that trade agreement negotiations with the US are progressing rapidly. The US delegation will visit India for further discussions, following the recent completion of the fifth negotiation round in Washington. Both nations aim to finalize the initial phase of the agreement by September-October, targeting to increase bilateral trade from USD 191 billion to USD 500 billion. Additionally, a free trade agreement with Oman is nearing completion.

Announcement of India-US trade agreement has boosted biz confidence: Piyush Goyal

YourStory

YourStory · 6m ago

Announcement of India-US trade agreement has boosted biz confidence: Piyush Goyal

India and the US plan to negotiate a bilateral trade agreement to enhance economic ties and boost business confidence, as announced during Prime Minister Modi's visit to Washington. Commerce Minister Piyush Goyal noted this agreement aims to more than double bilateral trade to $500 billion by 2030. The deal seeks to transform world trade by leveraging competitive strengths. India is also expanding global partnerships through new trade agreements with countries like Australia, the UAE, and the EFTA bloc.

Two days to go: No clarity over US tariffs, trade pact talks on

Economic Times

Economic Times · 29d ago

Two days to go: No clarity over US tariffs, trade pact talks on

With the August 1 deadline approaching, there is uncertainty regarding the U.S.'s higher tariffs on Indian goods. Both countries are engaged in intense trade negotiations, but the exact tariff rates remain unclear. President Trump announced potential tariffs of 15-20% on exports from countries without separate trade deals. The U.S. and India have concluded the fifth round of bilateral trade agreement discussions, aiming to finalize the first tranche by October-November. The outcome of these talks remains uncertain.

US team to visit India on August 25 for next round of talks for trade pact

Economic Times

Economic Times · 29d ago

US team to visit India on August 25 for next round of talks for trade pact

A U.S. delegation is scheduled to visit India on August 25 for a new round of negotiations on a proposed bilateral trade agreement. Both countries aim to finalize an interim trade deal before the August 1 tariff deadline. Key discussion points include U.S. demands for duty concessions on agricultural and industrial goods and India's requests for tariff relief in sectors like textiles and electronics. Talks are expected to conclude a first phase by September-October.

India, US may agree on interim trade pact by June 25, says report

Business Today

Business Today · 3m ago

India, US may agree on interim trade pact by June 25, says report

India and the US aim to finalize an interim trade pact by June 25, to further strengthen their bilateral relationship. In 2024-25, the US remained India's largest trading partner, with trade totaling $131.84 billion. India seeks duty concessions on textiles, gems, jewelry, and several agricultural products, while the US requests concessions on industrial goods, automobiles, wines, and agricultural items. They aim to conclude the first phase of the agreement by September-October 2025, enhancing economic ties further.

Numerous Swiss companies keen on investing in India: Helene Budlige

Thehindubusinessline

Thehindubusinessline · 1y ago

Numerous Swiss companies keen on investing in India: Helene Budlige

Swiss companies, including chocolate maker Barry Callebaut Group and technology group Bühler, are looking to invest in India. HESS Green Mobility plans to produce 3,000 electric buses in India by 2025, while Barry Callebaut Group aims to open its third manufacturing facility in India by 2024. Additionally, Bühler intends to invest an extra $23 million over the next two to three years. The trade pact between India and the European Free Trade Association (EFTA) further aims to enhance trade and investment between the countries.

DPIIT inks pact with Yes Bank to support startups

Economic Times

Economic Times · 5m ago

DPIIT inks pact with Yes Bank to support startups

The Department for Promotion of Industry and Internal Trade (DPIIT) has partnered with Yes Bank to support early-stage startups by providing funding access, mentorship, and infrastructure aid. This collaboration will enhance DPIIT's Startup India initiative using Yes Bank’s financial expertise. Startups will benefit from Yes Bank's tailored solutions and industry network. DPIIT also partnered with Kyndryl Solutions to support startups in manufacturing and IT sectors, focusing on digital transformation and AI-driven innovations.

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