Indian Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles Shri Piyush Goyal is talking to media on EU-India trade relations. India will waive tariffs on industrial imports from four European nations for a $100 billion investment over 15 years, ending nearly 16 years of negotiations. It envisages that the European Free Trade Association, comprised of Switzerland, Norway, Iceland and Liechtenstein, will invest $100 billion over 15 years in India's fast-growing market of 1.4 billion people, Trade Minister Piyush Goyal said. "With the new deal, we have secured nil import taxes on nearly every Norwegian good." The five signatories must ratify Sunday's deal before it can take effect, with Switzerland planning to do so by 2025.

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Persons: Piyush Goyal, Narendra Modi, Christian Vestre, Goyal Organizations: of Commerce and Industry, Consumer Affairs, Food, United Arab, European Free Trade Association, Trade, Industry Locations: India, Australia, United Arab Emirates, Britain, Switzerland, Norway, Iceland, Liechtenstein