India is close to concluding a unique $100 billion trade deal
Kyiv • UNN
India is close to signing a unique USD 100 billion trade agreement with Switzerland, Norway, Iceland and Liechtenstein, which provides for significant investment in India in exchange for easier access to trade.
Switzerland, Norway, Iceland, and Liechtenstein are preparing an agreement with India on major investments in exchange for easier trade access. Bloomberg writes about this with reference to its own sources, UNN reports.
Details
India is close to concluding a unique trade deal under which a small rupee of European countries will invest up to $100 billion over 15 years in exchange for easier trade access to the world's most populous country
It is noted that the European Free Trade Association, which includes Switzerland, Norway, Iceland, and Liechtenstein, has promised India investment as part of a trade agreement that is nearing completion.
The framework of the deal has already been agreed upon, and now the discussion is focused on the final investment amount, which could reach $100 billion over 15 years.
For its part, India is seeking to legally oblige signatories to invest this amount. However, the promised funds are likely to be formalized as a "goal" without legal mechanisms to force investment.
If the agreement is reached, it will be the first time such an investment commitment has been included in a free trade agreement with India
Reuters: India refuses to buy Russian weaponsJan 29 2024, 03:03 AM • 30674 views
