Last Updated on March 14, 2026 12:12 am by BIZNAMA NEWS
A R DAS
Commerce and Industry Minister Piyush Goyal Friday urged industry leaders to fully leverage the opportunities created under the India-EFTA Trade and Economic Partnership Agreement. He underscored the 100 billion dollar investment commitment secured from Switzerland, Norway, Liechtenstein and Iceland, describing it as an unprecedented achievement in global trade negotiations.
The Minister said this while virtually addressing the Commemorative Session marking two years of the signing of the India-EFTA TEPA in New Delhi. Mr Goyal described the agreement as a momentous occasion and a major milestone in India’s engagement with Europe, which has the potential to create 1 million jobs in India. He added that the agreement also opens up the services sector substantially and provides nearly 100% market access across the four EFTA countries.
Mr Goyal noted that never before in the history of the World Trade Organisation or global trade agreements had a Free Trade Agreement been combined with a legally binding investment commitment. He said that following the conclusion of the EFTA agreement, India successfully concluded the agreement with the United Kingdom and the 27-nation European Union, which was described by European Commission President Ursula von der Leyen as the mother of all deals. Referring to the rapid progress of the India-UK trade agreement, the Minister noted that the agreement could become one of the fastest trade agreements ever approved by the UK Parliament.
Emphasising the Government’s commitment to safeguarding the country’s sensitive sectors while negotiating FTAs, Mr Goyal reiterated that sectors such as agriculture and other sensitive industries have been protected. He also encouraged ASSOCHAM to play a bridging role between Indian companies and businesses in the four EFTA countries to ensure that the TEPA becomes a landmark agreement driving India’s economic growth story.
