Last Updated on October 1, 2025 9:16 pm by BIZNAMA NEWS
ANDALIB AKHTER / AMN
The India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA) officially takes effect today. According to the Ministry of Commerce and Industry, the agreement was signed on March 10 last year in New Delhi. EFTA, comprising Iceland, Liechtenstein, Norway, and Switzerland, presents significant potential for expanding international trade in goods and services. Among these nations, Switzerland stands as India’s top trading partner, followed by Norway.
TEPA is a forward-looking and comprehensive pact, marking the first instance in India’s free trade agreements where investment and job creation are directly linked. The agreement encompasses key areas such as market access for goods and services, trade facilitation, investment promotion, intellectual property rights, and sustainable development.
Under TEPA, EFTA will grant full market access for non-agricultural goods and offer tariff concessions on processed agricultural products. A notable feature is the binding commitment of $100 billion in investments into India over the next 15 years, expected to generate one million direct jobs. This framework aims to strengthen Indian exports by improving access to specialized inputs and fostering a favorable environment for trade and investment, thereby opening new avenues for both goods and services sectors.
To support this initiative, the Ministry has established a dedicated EFTA Desk since February. This single-window platform is designed to assist EFTA companies in investing, expanding, and setting up operations in India. It also serves as the central hub for ongoing dialogue between businesses and government, ensuring sustained engagement between India and its EFTA partners.
