India to sign a trade agreement with EFTA today: What is the significance of the deal?

India is all set to sign a trade agreement with the four-nation European Free Trade Association (EFTA), an intergovernmental grouping of Iceland, Liechtenstein, Norway and Switzerland, on Sunday (March 10). The pact likely builds in a plan to attract $100 billion in investment over the period of 15 years and diversify imports away from China. Why is the timing of the signing crucial for India? More than 64 countries, including India, are headed into elections this year, which could mean a long pause in free trade agreements (FTAs) for India and its trade partners. However, time is running out as…