India's workers will benefit from eased visa regulations in Switzerland, Norway, and Iceland, following the signing of a $100 billion EFTA agreement.

Key Points

• India has entered into a significant $100 billion free trade agreement with members of the European Free Trade Association (EFTA), including Iceland, Liechtenstein, Norway, and Switzerland.
• This agreement introduces relaxed visa requirements for Indian workers and professionals.
• Switzerland has opened up access to 120 services for Indian companies, spanning industries such as audit, legal, IT, and healthcare.
• Indian consumers will benefit from lower costs on high-quality Swiss products like watches, biscuits, chocolates, and clocks due to reduced customs duties.

Details of the EFTA Agreement:

India recently inked a groundbreaking $100 billion free trade agreement with members of the European Free Trade Association (EFTA), comprising Iceland, Liechtenstein, Norway, and Switzerland. This pact, expected to commence in the coming months, includes provisions for relaxed visa requirements, enabling Indian workers to access opportunities in EFTA nations. Additionally, the agreement guarantees duty-free access for domestic industrial goods to EFTA markets.

Switzerland's Offerings to Indian Companies:

As part of the EFTA agreement, Switzerland has liberalized access to over 120 out of 156 services, encompassing crucial sectors such as audit, legal, IT, and healthcare. Swiss state secretary for economic affairs, Helene Budliger Artieda, emphasized the commitment to facilitate various visas, including those for business, inter-corporate purposes, and independent professionals. Furthermore, Indian consumers stand to benefit from reduced customs duties on premium Swiss products like watches, biscuits, chocolates, and clocks.

Implementation Timeline and Work Visa Application Process:

The implementation of the agreement may take up to a year due to the intricate approval processes across different countries. For those seeking work visas, the application process involves several steps:

1. Select an appropriate work visa category.
2. Generate a case order ID.
3. Pay the requisite work visa fee.
4. Compile the necessary documentation for visa application.
5. Submit the completed application.
6. Provide biometric information as requested.
7. Await the visa decision.