India and Switzerland aim for a $100 billion investment and 1 million jobs in the next 15 Years

Current Context: India and Switzerland have signed a Trade and Economic Partnership Agreement (TEPA), which includes a remarkable commitment.

• Here are the key points:
• Investment Commitment: EFTA (European Free Trade Association) countries (Switzerland, Iceland, Norway, and Liechtenstein) will invest approximately $100 billion in India over the next 15 years.
• Job Creation: This investment is expected to generate 1 million direct jobs in India.
• Historic First: For the first time in the history of Free Trade Agreements (FTAs), such a binding commitment has been made regarding investment and job creation.
• Market Access: EFTA offers 92.2% of its tariff lines, covering 99.6% of India’s exports. India reciprocates by offering 82.7% of its tariff lines, covering 95.3% of EFTA exports.
• Sectors Covered: The agreement spans various sectors, including goods, services, intellectual property rights, and sustainable development.

Question:

1 What is the total investment commitment made by EFTA countries in India under the TEPA?

• A) $50 billion
• B) $75 billion
• C) $100 billion
• D) $150 billion

Answer: C) EFTA (European Free Trade Association) countries (Switzerland, Iceland, Norway, and Liechtenstein) will invest approximately $100 billion in India over the next 15 years.