$100 bln dollars will be invested in India: Countries named
Photo: 100 billion dollars will be invested in India (GettyImages)
Countries of the European Free Trade Association (EFTA) have reached an agreement on investments in India within the framework of a new trade deal, reports Bloomberg.
Switzerland, Norway, Iceland, and Liechtenstein have committed to investing in India as part of a trade deal. These countries aim to invest up to $100 billion in India over a 15-year period. India wants this investment commitment to be a mandatory condition of the agreement, but as of now, the EFTA countries have not agreed.
After 16 years of development, the EFTA countries have signed a trade deal with India.
This agreement allows them to sell their products in India at lower prices, covering processed food products, beverages, electronics, and other engineering goods.
India is currently very attractive to investors. Many companies want to relocate their production from China to other countries, and India is considered one of the best options. India's economy is rapidly growing, and it is poised to become one of the largest countries in the world soon.
Additionally, the United Arab Emirates (UAE) is interested in investing up to $50 billion in India.
Private companies, rather than the governments of EFTA countries, will be investing money in India. They will invest in existing and new factories in India. Thanks to these investments, over 1 million new jobs will be created in India.
The agreement will also facilitate the movement of Indian experts within the block and provide market access for certain agricultural products.
Previously, it was reported that Indian refineries are refusing to purchase Russian oil.
It was also mentioned that India wants to distance itself from Russian weapons and Moscow.
