Explanation:

EFTA is a regional trade organisation and free trade area consisting of four European states: Iceland, Liechtenstein, Norway, and Switzerland. EFTA was established to serve as an alternative trade bloc for those European states that were unable or unwilling to join the then European Economic Community (EEC) (which subsequently became the European Union). The organisation operates in parallel with the European Union (EU), and all four members participate in the European single market. India and the European Free Trade Association (EFTA) are planning to shortly conclude their long pending negotiations on FTA. So far, several rounds of negotiations have taken place, talks for which started in 2008. The proposed agreement covers trade in goods and services, investments, trade facilitation, Customs cooperation, protection of intellectual property and public procurement.