Swiss submits India free trade agreement to parliament

ZURICH, Sept 05 (Reuters): The Swiss government has submitted its proposed free trade agreement with India to parliament, it said on Thursday, moving closer to a deal that could open up the world's most populous country to Swiss exports.

The agreement between India and the European Free Trade Association (EFTA) – which has also has Iceland, Norway and Liechtenstein as members – is a "significant milestone" in Swiss trade policy, the government said.

Under the agreement, India will lift import tariffs on industrial products from the four countries in return for investment of $100 billion over 15 years. The deal, which was signed in March, requires parliamentary approval before becoming effective.