Cheap Swiss watches, chocolate, $ 100 billion investment, India-EFTA deal came into effect

Last updated: 01 October 2025, 23:17 IST has implemented the Tepa Agreement between India and EFTA, a $ 100 billion promise in 15 years, Swiss watches and chocolates will be cheaper, Piyush Goyal described it as historical. New -delhi. The free trade agreement between India and the European Block EFTA of four countries came into effect from Wednesday. In terms of this agreement, India received a promise of $ 100 billion in 15 years, and at the same time, custom duty will gradually be abolished on things like Swiss watches, chocolates, rusks and clock. The agreement was signed on March 10, 2024 and was named the Indo-FTA agreement and economic participation agreement, ie Tepa. Trade union and industry Minister Piyush Goyal calls it a historical day and said this agreement will open new opportunities and promote matters, investment and employment. The EFTA contains Iceland, Litchtenstein, Norway and Switzerland. The combined GDP of India and EFTA countries is 5.4 billion dollars, which will lead to great economic integration. Investment and jobs will be guaranteed to invest $ 100 billion per block in this agreement. This includes investments in the first ten years and $ 50 billion in the next five years. The government estimates that it will create about 1 million new jobs in India. The special thing is that if the investment does not come, India will have the right to stop or balance the release of the duty given to the four countries. Indian clients will also directly benefit from the implementation of TEA. Swiss watches, chocolate and premium products will be cheap as before, as the custom duty on it is gradually eliminated in the next ten years. However, milk, soy, coal and sensitive agricultural products are excluded from this agreement. India opened its 82.7 percent tariff lines in the agreement, covering 95.3 percent export value of EFTA in the agreement. India’s trade with EFTA countries was $ 2024-25 of $ 24.41 billion, with a loss of $ 20.47 billion against India. The largest trading partner is Switzerland, from which India imported $ 21.8 billion and exported $ 1.47 billion. In the field of services of services and investment, India opened 105 sub -sectors such as accounting, computer, distribution and health for EFTA. In return, Switzerland reached India in 128, Norway 114,, Lichttenstein 107 and Iceland reached India in 110 sub -sectors. India could also benefit from FDI as an investment of $ 10.87 billion, from 2000 and 2025 from Switzerland. About author Jai Thakur Jai Thakur is related to the world of news since 2018. Since 2022, News18hindi has been working as a senior sub -editor and is part of the business team. There is interest in news related to business, especially the stock market. Apart from this, I have been associated with the World of News since the Jai Thakur 2018. Since 2022, News18Hindi has been working as a senior sub -editor and is part of the business team. There is interest in news related to business, especially the stock market. Also give … Read more here to add News18 as your favorite news source on Google. Location: New Delhi, Delhi First Published: 01 October 2025, 22:02 IST Homebusiness Cheap Watches, Chocolate, $ 100 Billion Investment, Implemented India-EMB