India-EFTA to take effect from October 1: Goyal

Commerce minister Piyush Goyal

MUMBAI: The free trade agreement between India and the four-nation European bloc EFTA will be implemented from Oct 1, commerce and industry minister Piyush Goyal said Saturday.The two sides signed the Trade and Economic Partnership Agreement on March 10, 2024.Under the pact, India has received an investment commitment of USD 100 billion in 15 years from the grouping while allowing several products, such as Swiss watches, chocolates, and cut and polished diamonds, at lower or zero duties. “India-EFTA TEPA to come into effect from 1st Oct,” Goyal said on X.The European Free Trade Association members are Iceland, Liechtenstein, Norway, and Switzerland.