Four European states could invest up to $100 billion in the country’s economy over 15 years, creating more than a million jobs.
Switzerland, Norway, Iceland and Liechtenstein are preparing an agreement with India on major investments in exchange for easier trade access. Bloomberg writes about it, citing its own sources.
“India is close to concluding a unique trade agreement in which a small group of European states will invest up to $100 billion over 15 years in exchange for easier trade access to the world’s most populous country ,” the material said.
It was noted that the European Free Trade Association, which includes Switzerland, Norway, Iceland and Liechtenstein, has pledged investment in India as part of a trade agreement, negotiations for which are nearing completion.
“The framework of the agreement has been agreed upon, and now discussions are centered on the final amount of the investment, which could reach $100 billion over 15 years,” Bloomberg said.
For its part, India seeks to legally oblige signatories to invest this amount. However, the pledged funds are likely to be structured as an “end” with no legal mechanisms to compel investment.
“If an agreement is reached, it will be the first time that such an investment commitment is included in a free trade agreement with India,” the agency said.
The investment is expected to create more than one million jobs in India.
It was earlier reported that France and India have agreed to jointly develop weapons, including helicopters and submarines.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.