India seeks $100 billion investment deal with Switzerland, Norway

The proposed investments by EFTA nations are anticipated to create more than 1 million new jobs across India.

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India is close to finalising a trade agreement that could unlock substantial investment from select European countries, potentially totalling $100 billion over 15 years, Bloomberg reported.

The European Free Trade Association (EFTA) bloc, comprising Norway, Iceland, Liechtenstein and Switzerland, has made commitments under this prospective trade pact, according to sources familiar with the matter.

The proposed EFTA country investments are expected to create over 1 million jobs in India. Contributions would target both existing and new manufacturing projects, coming from both state entities and private businesses.

As part of the trade deal, provisions will facilitate market access for certain agricultural ventures and enable smoother movement of Indian professionals into EFTA nations.

India has already been attracting major investments from countries including the United Arab Emirates, which is considering pumping up to $50 billion into the country.