EFTA pursues swift trade agreement with India amid concerns over drug access clause
The European Free Trade Association (EFTA) aims to conclude a trade agreement with India "within weeks," with the four-nation bloc showing a steadfast commitment to seal the deal before the Asian country enters its election cycle. However, concerns persist over a clause that may delay access to generic drugs in India for up to six years.
Amidst reports of India seeking a commitment from EFTA to invest $100 billion over 15 years, ongoing discussions revolve around setting specific investment targets and addressing potential consequences if these targets are not met. The agreement has been under discussion since 2008.
Both Norway’s deputy foreign minister Andreas Motzfeldt Kravik and Switzerland's Ambassador to India, Ralf Heckner, are optimistic about concluding the agreement before the 2024 general elections in April.
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