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EFTA-India TEPA
Context
The Swiss government recently announced its decision to suspend the Most Favoured Nation (MFN) clause in the Double Taxation Avoidance Agreement (DTAA) with India. However, the decision will not delay the ratification and implementation of EFTA-India TEPA.
What is EFTA-India TEPA?
- India and the four-nation European Free Trade Association (EFTA) signed the pact, officially dubbed as TEPA (Trade and Economic Partnership Agreement), in March.
- Its members are Iceland, Liechtenstein, Norway, and Switzerland.
- This trade agreement is expected to enhance trade relations between India and the EFTA bloc, including Switzerland, irrespective of the MFN issue.
- The agreement is yet to be implemented.
India-Switzerland Trade
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