Timber Times

The Student News Site of Robert Frost Middle School

Timber Times

Timber Times

Student Events
In & Out Burger Cookout
Makayla MylesApril 3, 2024

In-N-Out is coming to our school for Eligible 6th & 7th Graders. From 1:19-3:15 pm  on the Honor Court Lawn & Covered Eating Area.

$100B Free Trade Deal Between India and 4 Non-EU European Nations

India and the EFTA have signed an FTA (Free Trade Agreement).
Map of the EFTA.

The deal between India and the EFTA (European Free Trade Association) will see investments in India’s economy of about $100B, according to their trade minister. The EFTA is made up of Norway, Iceland, the microstate of Liechtenstein, and Switzerland. This comes after around 16 years of negotiations with the four EFTA countries.

The trade deal itself states that India must lift many barriers in trade between the four while they invest $100B in India over 15 years. These investments are to be made across many different industries, including machinery, manufacturing, and pharmaceuticals. “The agreement enhances market access and simplifies customs procedures making it easier for Indian and EFTA businesses to expand their operations in the respective markets,” the EFTA stated. However, this deal needs to be ratified by all five countries, with Switzerland planning to do so in 2025.

This comes after the UK and India have already been negotiating an FTA for the past few years. The UK’s trade minister stated that it might be possible to sign one before India’s general elections where Modi seeks a third term in office. These elections are coming in November, though it would be “challenging” to be signed by then. She later added that she does not want to have the election as a deadline. India has also been negotiating trade deals with countries like the UAE and Australia in the past 2 years as well.

Leave a Comment
More to Discover
About the Contributor
Mikael Ronaque, Head of Department (World News)/Editor in Chief
Hello. I am Mikael, Head of Department of World News. I am a 7th grader at the time of writing and I edit/publish articles on this website. I am an Indian. I aim to write about various things around the world with as little bias as possible.

Comments (0)

All Timber Times Picks Reader Picks Sort: Newest

Your email address will not be published. Required fields are marked *