The Swiss government has submitted a proposed free trade agreement with India to parliament for approval, marking a step toward opening up the world’s most populous country to Swiss exports. The agreement, which involves the European Free Trade Association (EFTA) members—Switzerland, Iceland, Norway, and Liechtenstein—represents a key milestone in Swiss trade policy, according to the government.
Under the deal, India will gradually lift import tariffs on industrial products from the four EFTA countries, with the agreement also including an investment framework of $100 billion over 15 years. The agreement, signed in March, still requires parliamentary approval to take effect, with discussions expected in Switzerland’s upcoming spring and winter parliamentary sessions.
The agreement aims to reduce tariffs on nearly 95% of Swiss products exported to India, significantly boosting the competitiveness of Swiss industries in the Indian market. The Swiss government emphasized that the growing middle class in India presents substantial growth potential for exports.
Despite India’s market potential, Swiss exports to the country currently account for just 0.7% of Switzerland’s total foreign sales, according to data from the Federal Customs Office.
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