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MFN Status Suspension by Switzerland Not to Impact EFTA Trade Pact with India
Switzerland's suspension of the Most Favoured Nation (MFN) clause in its Double Taxation Avoidance Agreement with India will not affect commitments made under the trade pact between India and the EFTA bloc, Commerce Secretary Sunil Barthwal confirmed. The agreement, signed in March, includes a USD 100 billion investment commitment over 15 years.
Swiss suspension of the most favoured nation clause in the Double Taxation Avoidance Agreement (DTAA) will not have any impact on the commitments signed in a trade agreement between India and the EFTA bloc, a top government official said on Monday.
The Swiss government has suspended the most favoured nation (MFN), which could potentially impact Swiss investments in India and lead to higher taxes on Indian companies operating in the European nation.
India and the four-nation European Free Trade Association (EFTA) signed the agreement in March. Its members are Iceland, Liechtenstein, Norway, and Switzerland.
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