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India and a trade group of four European nations signed an economic agreement on Sunday aimed at increasing trade and investment, capping nearly 16 years of negotiations, said Union Trade Minister Piyush Goyal.

The deal is a binding agreement for the European Free Trade Association – Switzerland, Norway, Iceland and Liechtenstein – to invest $100 billion over 15 years in the fast-growing market of 1.4 billion people, Mr Goyal said.