The Swiss government has introduced a proposed free trade agreement with India to its parliament, marking a significant step in enhancing trade relations. The agreement, which involves the European Free Trade Association (EFTA) including Iceland, Norway, and Liechtenstein, aims to bolster Swiss exports by eliminating import tariffs on industrial products from these nations. In exchange, India will receive a substantial $100 billion investment over the next 15 years.

The deal, finalized in March, is now pending parliamentary approval. Swiss lawmakers are expected to review and debate the agreement during their upcoming spring and winter sessions.

Once approved, the treaty will reduce tariffs on nearly 95% of Swiss products exported to India. The Swiss government views this agreement as a crucial development in its trade policy, emphasizing the significant growth potential in India's expanding middle class.

Currently, Swiss exports to India account for just 0.7% of total Swiss sales abroad, highlighting the potential for increased market share. The Swiss government believes that this agreement will enhance the competitiveness of Swiss products in the Indian market.

The deal follows 16 years of negotiations and is expected to provide a major boost to Swiss businesses looking to expand their presence in one of the world's most populous countries.

Parliament is now tasked with making a decision on the proposed free trade agreement between the European Free Trade Association (EFTA) states and India. The Swiss Federal Council introduced the dispatch to the media on Thursday, outlining the details of the agreement. This deal is designed to enhance the competitiveness of Swiss exports to India, which is currently the most populous country in the world. The goal of the agreement is to open up new opportunities for Swiss businesses by reducing trade barriers and fostering stronger economic ties with the Indian market.

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