India and the European Free Trade Association (EFTA) have concluded negotiations on a free trade agreement (FTA) and a formal pact is to be signed within the next 10 days, Iceland’s foreign minister Martin Eyjólfsson said in New Delhi on Thursday, February 22.
India and four members of the EFTA - Norway, Iceland, Liechtenstein and Switzerland - have been negotiating a trade pact since 2008.
The total value of trade in goods between India and the four countries stood at roughly €5.54 billion in 2023, according to the statistics published by the EFTA.
In 2023, the EFTA imported goods worth €3.2 billion from India, while it exported goods worth €2.3 billion to India.