Economic pact signed on Sunday concludes nearly 16 years of negotiations
India will lift most import tariffs on industrial products from four European countries in return for investment of $100 billion over 15 years, its trade minister said, after an economic pact signed on Sunday that concluded nearly 16 years of negotiations.
In turn, India will lift, or partially remove, very high customs duties on 95.3% of industrial imports from Switzerland, excluding gold, either immediately or over time, the Swiss government said in a statement. The Indian market offers immense opportunities for trade and investment, said Swiss economic official Guy Parmelin, adding that the pact was the result of 21 rounds of talks.
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