Switzerland’s MFN Status Not Affects EFTA Deal

• India’s Commerce Secretary, Sunil Barthwal, clarifies that Switzerland’s suspension of MFN treatment for India under the double taxation avoidance agreement (DTAA) will not affect the free trade agreement between the European Free Trade Association (EFTA) nations and India.

• The DTAA, under the Department of Revenue, will not impact India’s commitments under the EFTA.

• India’s TEPA, signed with EFTA nations, includes a $100 billion investment commitment from these countries over the next 15 years, with one million direct jobs to be created.

• Barthwal is unaware of the possibility of renegotiating the double taxation treaty with EFTA-bloc nations.

• Concerns about steel imports are being investigated by the Directorate General of Trade Remedies.