EFTA Desk will serve as the main contact for EFTA businesses, providing market insights, addressing concerns, and supporting expansion.
- EFTA desk is a key part of the India-EFTA Free Trade Agreement (TEPA), a Trade Agreement between India and EFTA, signed in 2024.
Key Highlights of TEPA
- First-ever Binding FTA: binding commitment of $100 bn investment and 1 million direct jobs in the next 15 years has been given.
- Tariff Reduction: EFTA eliminates 92.2% of tariff lines, benefiting 99.6% of India’s exports.
- Market Access: Full access for non-agri products and concessions on Processed Agricultural Products (PAP).
- Enhanced Services Access: Services offers from EFTA include-
- Mode 1: Digital delivery of services.
- Mode 3: Commercial presence.
- Mode 4: Easier temporary stay for key personnel.
- Intellectual Property Rights (IPR): Aligns with TRIPS for strong protection.
- Professional Recognition: Covers fields like nursing, chartered accountancy, and architecture.
- Rules of Origin & Trade Remedies: Clear regulations to ensure smooth trade and safeguard interests.
Challenges Associated with TEPA
- Strict IPR rules could impact India’s generic drug industry.
- Trade imbalances, especially due to high gold imports from Switzerland, need careful management.
- The 16-year negotiation process reflects the complexity of aligning interests.
About EFTA
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