Free trade agreement with India: a milestone for Swiss foreign trade
- Introduction Executive summary | Positions of economiesuisse
- Chapter 1 The three most important points of the free trade agreement with India
- Chapter 2 India – a sleeping giant has awoken
- Chapter 3 EFTA-India free trade agreement: How does the Swiss economy benefit?
- Chapter 4 Bilateral trade between Switzerland and India
- Chapter 5 Swiss direct investment in India
- Chapter 6 India's FTA negotiations with the EU and UK
The three most important points of the free trade agreement with India
1. Customs facilitations
India has high import tariffs by international standards (weighted average of 6.2 per cent on all imported goods in 2020, see below). The core of a free trade agreement lies in tariff reductions. According to estimates, the free trade agreement with India will result in the complete or partial elimination of tariffs for 95.3 per cent of Swiss exports of industrial products. Tariff dismantling periods of 0 to 10 years are envisaged from the entry into force of the agreement – depending on the product. The rules of origin – a prerequisite for utilizing the customs benefits – have also been simplified. Certain industrial goods will not receive any customs relief. Agricultural goods are not affected.
India levies high import duties by international standards