India-EFTA Free Trade Agreement To Take Effect On October 1
- brg_news_room
- Sep 3
- 1 min read
India/Switzerland: India’s free trade agreement with the European Free Trade Association (EFTA) will come into effect on 1 October, according to Switzerland. The pact introduces legally binding provisions on trade and sustainable development for the first time. Under the agreement, India will reduce or eliminate duties on several EFTA exports, including Swiss watches, chocolates, and cut and polished diamonds. Switzerland stated that the deal improves access to the Indian market for its goods and services, granting better terms for 94.7 per cent of existing exports between 2018 and 2023 (excluding gold). These exports include pharmaceutical products, machinery, optical instruments, watches, and processed agricultural goods.
The agreement also enhances legal certainty and predictability in bilateral trade while reaffirming both sides’ commitments under international treaties on trade, environment, social issues, and human rights. Switzerland emphasised that the deal ensures compliance with environmental and labour laws, as well as broader international standards, in connection with trade activities under the agreement.
Source: The Economic Times
