Cut& polished diamonds will see duty cuts, no concessions from India on gold: India, EFTA deal

India and the European Free Trade Association (EFTA), a group consisting of Iceland, Liechtenstein, Norway, and Switzerland, signed a free trade agreement on Sunday, March 10. This agreement aims to encourage investments and enhance trade in goods and services between the two parties.

The deal involves EFTA countries committing to invest $100 billion in India over the next 15 years. The agreement, officially dubbed Trade and Economic Partnership Agreement (TEPA), covers various aspects such as trade in goods, rules of origin, intellectual property rights, services, investment promotion, govt protection etc.

While cut and polished diamonds are on the list of products that will see customs duty cuts, there will be no concessions from India on gold and major farm products

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