India aims to expand green energy market, access affordable machinery with EFTA trade deal

Maintaining certainty is crucial for fostering trust in the agreement, Goyal said that he is hopeful the investment flow will be larger than estimated, and going forward both the sides will mutually work out on how to handle any shortfall. He said that benefits will include access to services where professionals from both sides will be able to engage for certainty in provision of services in the audio-visual domain, IT, healthcare and education.

India is hopeful of benefits emanating to its exporters from exports beyond the 4 EFTA member countries, as many products will reach other parts of the world after value addition in these countries.

Pitching for an increase in use of solar and wind energy, India hopes to find huge markets for its equipment producers for Green energy and Green Ammonia.

Looking at imports, India anticipates access to cheaper machinery under TEPA, benefiting dairy, agri-processing, and pharmaceutical sectors. Commerce Secretary Sunil Barthwal termed tariffs as a great impediment towards manufacturing, adding that lowering them will spur investment. Additional Secretary with the Department of Commerce, Sathya Srinivas said that the industry was looking for legal certainty in terms of regulations and tariffs, and the TEPA will provide them certainty and prompting them to come and invest.