World economy sees India as a major manufacturing base. India is working to strengthen its roots in the international market.
It is trying to exercise a bilateral agreement with the European Free Trade Association (EFTA), including Switzerland, Norway, Liechtenstein and Iceland, and join hands to explore the opportunity to ink a broad-based trade and investment agreement.
The study recommends measures to develop economic engagement through two-way trade and investment flows. This will help strengthening the economic ties of both the countries.
Bilateral trade between India and EFTA in 2005-06 was $7.4 billion, wherein exports were of $623.11 million and import was $6.85 billion.
There was growth in bilateral trade of 9.3 percent in 2005-06, while India's exports to EFTA shrank over 3 percent, imports from EFTA grew by 11 percent.
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