[Alpha Biz=(Chicago) Reporter Paul Lee] The European Free Trade Union (EFTA) of four European countries -- Switzerland, Norway, Iceland and Liechtenstein -- has decided to invest $100 billion (about 130 trillion won) in India over 15 years.

The EFTA was launched in 1960 in response to the French and German-led movement to establish a European community. All four of its countries are not EU member states.

According to local media in India on the 11th, India's Commerce Minister Pyush Goal held a press conference in New Delhi, the capital, and announced that "India and the EFTA signed a "Trade and Economic Partnership Agreement (TEPA)" after 16 years of negotiations."

It is estimated that one million jobs will be created in India. Indian professionals such as information technology (IT) are expected to enter the EFTA.

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