India’s Trade Pact With 4-Nation European Bloc: All About Swiss Watches, Chocolates Set to Enter Indian Market

News Snapshot:

India and the four-European nation bloc EFTA signed a trade and economic partnership agreement (TEPA) on Sunday to enhance trade and investments between the two regions, heralding a new era of economic cooperation. As a result of the trade pact, Indian customers will get access to high-quality Swiss products such as watches, chocolates, biscuits, and clocks at lower prices. In return, India will phase out customs duties under its trade pact with the EFTA bloc on these goods. The pact with the European Free Trade Association (EFTA) — consisting of Iceland, Liechtenstein, Norway, and Switzerland — will take up to...