Explainer: What is the European Free Trade Association?

Four countries in Europe have signed a landmark free trade deal with India.

Iceland, Liechtenstein, Norway, and Switzerland have made the deal through their regional trade organization, the European Free Trade Association (EFTA).

The deal, known as a Trade and Economic Partnership Agreement, would see $100 billion invested over the next 15 years in a range of industries, including manufacturing, machinery and pharmaceuticals, according to the Indian government. These investments would create 1 million jobs for India’s “young aspirational workforce”.

India said this was the first time it had signed a free trade agreement with four developed nations, and that these countries were “an important economic bloc” in Europe.