India Signs Major Trade Pacts With EFTA, UK

India has ratified the Trade and Economic Partnership Agreement (TEPA) with the European Free Trade Association (EFTA), set to bring $100 billion in investment over 15 years and lower tariffs on products like Swiss watches and chocolates, with implementation scheduled for October 1. In addition, India has finalized a Comprehensive Economic and Trade Agreement (CETA) with the UK, aiming to double bilateral trade to over $100 billion by 2030, reduce tariffs, and deepen cooperation in defence, technology, and clean energy. The UK agreement also includes commitments to cooperate on extraditing Indian economic offenders and addressing terrorism and extremism. These moves highlight India's expanding trade diplomacy with both former colonial powers and non-EU European nations. The EFTA pact marks the completion of ratification by all parties, while both agreements are seen as steps to promote inclusive growth and enhance market access. India's growing influence in global trade is underscored by these landmark agreements.