India signs Trade Agreement with EFTA । In Depth । Drishti IAS English
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- Опубліковано 27 чер 2024
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India recently inked a trade deal with the European Free Trade Association (EFTA), comprising Iceland, Liechtenstein, Norway, and Switzerland, bringing in a substantial $100 billion investment over 15 years. This agreement holds significance as it aims to diversify India's imports away from China, amidst a global shift in investment patterns. With numerous countries, including India, gearing up for elections, there's a looming uncertainty regarding Free Trade Agreements (FTA). The timing is critical as global supply chains undergo a transformation, with investments shifting away from China.
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Option D + Liechtenstein
Nice session more session on foreign trade and international news
Very good and easy to understand session thanks team Drishti
Thank you so much ma'am
Option d
D) All above
Finallly agreed😊
There is a correction
Liechtenstein import value is greater than export, then how is it mentioned as surplus? Either the values are wrong it shud be written deficit
All of the above
All the above
Ans(D)
Thanks mam
Option d.
Ans. D
Drishti please provide pdf as well
All of these
😊
D
I don't understand if India in trade deficits with the Swiss then reducing the tariff will increase the influx of their goods in the India Market so in which it will decrease the deficit ? Kindly EFTA has ,8% of tariff and India has 18% . Can anyone explain ?
By eliminating tariffs and some non-tariff barriers FTA partners get easier market access into india which helps to get $100 billion investment. We have to see a big picture in this scenario.
Indian exports will also be exempted from import duties... So exports will also increase along with imports
Also deficit with Swiss is mainly due to luxury products being highly priced... Variety and quantity wise, India's exports to swiss are greater than imports
Yess...
Also if Switzerland is our only major trading partner among EFTA nations then it already has cut-down its import duties for all nations in industrial sector then wht was the meaning of signing this deal. Also those investments are supposed to come from private sector meanwhile their govt. Is giving no asurity then how is it a win win situation rather It's a complete one sided deal
First, the trade deficit is because they send high value imports like Rolex. India doesn't send such high value products. Secondly they are very Small market compared to India so the quantity Swiss import is more than Indian exports. With fta India will be able to export services and professionals as well. That will he in India's interest
All of the above
D
D