India has highlighted the progress made under the India–EFTA Trade and Economic Partnership Agreement (TEPA) as the landmark pact with the European Free Trade Association (EFTA) completes two years.
Government officials and trade bodies say the agreement has strengthened economic ties between India and the EFTA bloc, which includes Switzerland, Norway, Iceland and Liechtenstein. The pact has opened new opportunities for Indian exporters in sectors such as pharmaceuticals, engineering goods, textiles and processed foods, while also facilitating increased investment flows into India.
Under the agreement, EFTA countries committed to significant long-term investments in India, aimed at supporting manufacturing growth, technology transfer and job creation. Indian officials say the investment commitments linked to the pact are expected to generate large-scale employment and boost industrial development over the coming years.
Trade analysts note that the agreement represents one of India’s most comprehensive economic partnerships with a group of developed economies. By lowering tariffs and improving market access, the pact has helped Indian exporters tap high-value European markets while providing EFTA companies greater access to India’s fast-growing consumer base.
India’s commerce authorities say the agreement is also playing a role in strengthening supply chain integration and encouraging collaboration in areas such as innovation, sustainability and advanced manufacturing.
As the pact enters its third year, both sides are expected to focus on expanding trade volumes, accelerating investment projects and deepening cooperation across sectors to fully realise the potential of the India–EFTA economic partnership.
