FTAs with developed economies aimed to increase international trade: Union Minister Piyush Goyal

Commerce and Industry Minister Piyush Goyal has said that India’s Free Trade Agreements with developed economies are aimed at supporting growth, attracting investments, promoting innovation, creating jobs and increasing the country’s participation in international trade. He said this while addressing the closing session of the 5th Annual Meeting of India Global Innovation Connect in New Delhi. The Minister said that India and Switzerland share a special relationship and noted that the Trade and Economic Partnership Agreement (TEPA) signed between India and the European Free Trade Association (EFTA) countries has created a strong framework for trade, investment and innovation-led partnerships. Referring to the EFTA agreement, Mr Goyal said that Switzerland, Norway, Liechtenstein and Iceland have committed to bring 100 billion dollars of investment into India over a period of 15 years and support the creation of one million direct jobs.