Free Trade Agreement: From today, free trade agreement has come into force with four countries of Europe including Switzerland. Now many things including Swiss chocolate, Swiss watch will be found cheaply in their country. Explaining what are the special things about this agreement, CNBC-Awaaz’s Economic Policy Editor Laxman Roy said that FTA (Free Trade Agreement) has been implemented with Europe from today. FTA between India and EFTA (European Free Trade Association) has come into force from today. The association has Switzerland, Norway, Iceland and LieuChenstein member countries.
Due to this agreement, 10 lakh jobs can be created in the country in 15 years. With this, the country can invest $ 100 billion. Experts believe that this will promote IT export and business service. Due to this agreement, import duty on $ 5 or expensive Swiss Wine has been reduced from 150 per cent to 50 per cent.
The import duty on Swiss watch will be reduced from 20 per cent to zero in 7 years. In 10 years on Swiss chocolate, import duty will be reduced from 30 per cent to zero. The import duty on polish diamond will be reduced to half in 10 years. On the other hand, there will be no duty on coffee exports from India. There will be a big cut on duty on goods like fish and shrimp to be exported from India.