Cheaper Swiss medicines, wines coming at a store near you

With the entry into force of the Trade and Economic Partnership Agreement (TEPA) with the European Free Trade Association ( EFTA ), the prices of Swiss wine and medicines will see a major drop.

India’s tariffs on imports from the EFTA bloc will immediately come down to zero on coal except steam and coking coal, most medicines, dyes, most textiles and apparels, and iron and steel products, according to an analysis by Global Trade Research Initiative ( GTRI ).

Switzerland is a world leader in pharma, spearheading new discoveries, and a top exporter of organic chemicals.

How much reduction will there be for Wines?

In wines whose value is less than $ 5 per 750 ml bottle there will be no concession, But on wines prices between $ 5 duty cut in the first year will be to 100% from 150%.