India, European bloc EFTA ink free trade pact: Who benefits and how?

News Snapshot:

India has signed a free trade agreement with the four-nation European Free Trade Association (EFTA) — comprising Iceland, Liechtenstein, Norway and Switzerland — opening up their markets to each other. The deal will phase out custom duties on many imported products, giving Indian customers access to high-quality Swiss products at lower prices Union Minister for Commerce and Industry Piyush Goyal during the signing of the India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement, in New Delhi. PTI It’s finally done; after 16 years and 21 rounds of formal negotiations, India and the European Free Trade Association (EFTA) signed...