India signs trade accord with four European nations for $100 billion investment over 15 years

This handout photograph taken and released by the Indian Press Information Bureau (PIB) on March 10, 2024 shows Piyush Goyal (2R), India's Minister of Commerce and Industry, Consumer Affairs, Textiles, Food and Public Distribution addressing diplomats at the signing ceremony of Trade and Economic Partnership Agreement (TEPA) between India and European Free Trade Association (EFTA) in New Delhi. (AFP/File)
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Updated 11 March 2024
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India signs trade accord with four European nations for $100 billion investment over 15 years

  • India signs trade agreement with Iceland, Liechtenstein, Norway and Switzerland to create one million direct jobs in India
  • Agreement includes trade in goods and services, investment promotion, cooperation, intellectual property

NEW DELHI: India signed a trade agreement with Iceland, Liechtenstein, Norway and Switzerland on Sunday that includes a commitment of $100 billion in investments and creating 1 million direct jobs in India in the next 15 years.

India committed to reducing import tariffs on industrial products from the four European countries that comprise the European Free Trade Association, or EFTA.

“The landmark agreement between India and EFTA is set to bring significant economic benefits, such as better integrated and more resilient supply chains, new opportunities for businesses and individuals on both sides leading to increased trade and investment flows, job creation, and economic growth,” an EFTA communique said.

India’s Commerce and Industry Minister Piyush Goyal said India for the first time had signed an agreement with an important economic bloc in Europe. India is also working on trade pacts with Britain and the European Union.

The agreement includes trade in goods and services, investment promotion and cooperation, intellectual property, government procurement, trade and sustainable development, and dispute settlement. It will provide a window for Indian exporters to access European and global markets, Goyal said in a statement.

The agreement was signed in New Delhi by Goyal, his Swiss counterpart Guy Parmelin, Iceland’s Foreign Minister Bjarni Benediktsson, Liechtenstein’s Foreign Minister Dominique Hasler, and Norway’s Trade and Industry Minister Jan Christian Vestre.

Parmelin, speaking on behalf of the EFTA member states, said that “EFTA countries gain market access to a major growth market. Our companies strive to diversify their supply chains while rendering them more resilient. India, in return, will attract more foreign investment fro


Grand jury declines to indict man in shooting that killed teen at Kentucky State University

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Grand jury declines to indict man in shooting that killed teen at Kentucky State University

  • After the grand jury decision, Kentucky State officials said they “will cooperate with law enforcement and investigators as appropriate” and are focused on student safety and well-being

FRANKFORT, Kentucky: A grand jury has declined to indict the father of two Kentucky State University students who was charged with murder in an on-campus shooting that killed one student and critically injured another.
In a social media post after the Tuesday hearing, defense attorney Scott Danks said grand jurors decided not to indict his client, Jacob Lee Bard, for the Dec. 9 shooting and he is out of jail. Bard’s attorneys have said that 20 to 30 people had gathered to attack his son and family, and that he was justified in shooting two people who were beating his son.
After the grand jury decision, Kentucky State officials said they “will cooperate with law enforcement and investigators as appropriate” and are focused on student safety and well-being.
Bard’s attorneys say the family was moving their younger son out, with two armed campus police officers present, after withdrawing both sons from school because of “multiple armed, violent” incidents against them and other students in the days leading up to Dec. 9, some captured on security cameras.
When the family and an officer reached the dormitory entrance on the move-out day, the group of people in masks and hoods rushed out and began violently assaulting the family and others, including beating the son’s head against the pavement, the attorneys said.
In October, the younger son reported a burglary in his dorm room to campus police and received threats of violence afterward, the attorneys said.
Because of continued death threats, the sons are now staying in an undisclosed location, the attorneys added.
“Jacob’s actions were absolutely justified under the law, and were the only measure that prevented his son’s death or serious injury,” the attorneys wrote.
Investigators have said the shooting was isolated, but they have not publicly shared details of the circumstances or a possible motive. The shooting killed 19-year-old De’Jon Fox of Indianapolis.
In a message to the campus community, Kentucky State said the grand jury decision “does not lessen the pain our community continues to feel, nor does it change our priorities.”
“Our commitment remains centered on supporting our students and ensuring Kentucky State University is a safe place to learn, live, and work,” it said.
The shooting was the second in four months near the residence hall. Someone fired multiple shots from a vehicle on Aug. 17, striking two people who the university said weren’t students. Frankfort police said one victim was treated for minor injuries and the second sustained serious injuries. The dorm and at least one vehicle were damaged by gunfire.
Police have said Bard, 48, is from Evansville, Indiana, which is about 150 miles (240 kilometers) west of Frankfort.
Kentucky State is a public historically Black university with about 2,200 students. Lawmakers authorized the school’s creation in 1886.