India signs trade pact with European countries

NEW DELHI, March 10 (Xinhua) -- India on Sunday signed a trade agreement with the European Free Trade Association (EFTA) countries, comprising Switzerland, Iceland, Norway and Liechtenstein.

The pact involves EFTA countries committing to invest 100 billion U.S. dollars in India in the next 15 years, and facilitate the generation of 1 million direct jobs in India through such investments, according to a statement issued by the federal Ministry of Commerce and Industry.

Prime Minister Narendra Modi said the agreement "symbolizes our shared commitment to open, fair, equitable trade, as well as generating growth and employment for the youth."

Among EFTA countries, Switzerland is the largest trading partner of India followed by Norway, the statement said.