India-EFTA Trade Pact to Take Effect on October 1

India's free trade agreement with the European Free Trade Association (EFTA) will come into effect on October 1, according to a statement by Switzerland, as reported by the Economic Times. The pact includes, for the first time, legally binding provisions on trade and sustainable development. The EFTA bloc comprises Iceland, Liechtenstein, Norway, and Switzerland. Both sides signed the Trade and Economic Partnership Agreement (TEPA) on March 10, 2024. As part of the deal, India secured an investment commitment of USD 100 billion over 15 years. Of this, USD 50 billion will be invested within the first decade, followed by another USD 50 billion over the subsequent five years. The investment is expected to generate one million direct jobs in India — marking the first such pledge in any of India's trade agreements.