India announced a landmark free trade deal with EFTA marking a shift in its trade policy

Описание: India has recently announced a landmark free trade deal with the European Free Trade Association (EFTA), comprising Iceland, Liechtenstein, Norway, and Switzerland, marking a significant shift in its trade policy. The agreement, described by Prime Minister Narendra Modi as a breakthrough after over 15 years of negotiations, eliminates import tariffs on industrial goods from EFTA states and promises $100 billion in investments across various sectors in India. This move follows similar trade agreements with Australia and the United Arab Emirates, signaling a departure from India's past protectionist stance. Despite ongoing political imperatives for protectionism, India's increasing integration into the global economy and reliance on imports suggest that economic considerations may soon outweigh political concerns.
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