Jewellery & Watches

Could Swiss watches in India get cheaper with the new Indo-Swiss trade deal?

By Shilpa Dhamija
Published 30 Sep, 2024

Earlier this year, the European Free Trade Association (EFTA) — comprising Switzerland, Liechtenstein, Iceland, and Norway — signed an agreement with India, the world’s fastest-growing major economy, to strengthen bilateral trade

Earlier this year, the European Free Trade Association (EFTA) — comprising Switzerland, Liechtenstein, Iceland, and Norway — signed an agreement with India, the world’s fastest-growing major economy, to strengthen bilateral trade relations. Although the deal has been signed, each EFTA member nation must still secure approval from their respective governments or relevant authorities before the agreement can come into effect. Once fully ratified, India will begin a phased reduction of import duties on Swiss watches, lowering the current rate of 22% to 0% over the course of seven years

 

Shilpa Dhamija

Shilpa is a world renowned journalist and an expert in decoding India and Asia’s luxury markets for global readers. Her original, in-depth reports and analysis are frequently featured in prestigious international titles across the UK, China, Hong Kong, Switzerland, and Oman.

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