Union Minister for Commerce and Industry Piyush Goyal said that the India-European Free Trade Association (EFTA), Trade and Economic Partnership Agreement (TEPA) is a defining moment in India’s economic engagement with Europe. In his Keynote address at the India-EFTA prosperity summit in New Delhi, Mr Goyal stated that it represents a trusted partnership between friends. He said that TEPA will unlock wide-ranging opportunities across life sciences, clean energy, Artificial Intelligence, education and tourism. The Minister added that TEPA is a firm investment commitment which ensures balance and fairness.
Inviting businesses from EFTA nations, Mr Goyal assured them of India’s open, transparent and investor-friendly environment, with 100 percent Foreign Direct Investment allowed in almost all sectors of interest. He affirmed that the Indian Government is committed to ensuring smoother, faster and more efficient pathways for investors.
Talking to the Media at Prosperity Summit, Ambassador of Norway to India, May-Elin Stener, said that it is a very good day for India-Norway relations as the two nations are entering into the India-EFTA agreement. The Ambassador said that India is the fourth-largest economy in the world and is aiming to become a developed country by 2047. Saying that Norway wants to be a part of this journey.
