India is preparing an agreement on investments in the country for $100 billion

Four European states can invest up to 100 billion US dollars in the country's economy over 15 years, creating more than a million jobs.

Switzerland, Norway, Iceland and Liechtenstein are preparing a major investment deal with India in exchange for easier trade access. Bloomberg writes about this with reference to its own sources.

"India is close to concluding a unique trade agreement under which a small group of European states will invest up to $100 billion over 15 years in exchange for easier trade access to the world's most populous country," the article says.

The European Free Trade Association, which includes Switzerland, Norway, Iceland and Liechtenstein, has pledged investment to India as part of a trade deal that is nearing completion, it said.

"The framework of the deal has already been agreed, and now the discussion is going on around the final amount of investment, which could reach 100 billion dollars over 15 years," – says Bloomberg.

For its part, India seeks to legally bind the signatories to invest this amount. However, the promised funds will probably be formalized as a "target" without legal mechanisms to compel investment.

"If the agreement is reached, it will be the first case of such an investment commitment entered into a free trade agreement with India," the agency notes.

The investment is expected to create more than a million jobs in India.

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