The India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA) is expected to create new opportunities for Indian exporters by improving market access across EFTA member countries, Commerce Secretary said.
The agreement covers trade in goods and services and is aimed at strengthening economic ties between India and the four EFTA members — Switzerland, Norway, Iceland and Liechtenstein.
The pact is expected to provide Indian businesses with greater access to European markets and improve opportunities for exports across sectors. Industries such as engineering goods, pharmaceuticals, textiles, processed food, chemicals and other manufactured products could benefit from improved market access.
The Commerce Ministry has been encouraging exporters to make greater use of trade agreements by identifying products with strong demand in partner markets and improving their competitiveness.
TEPA also provides a framework for deeper cooperation in areas including investment, intellectual property, trade facilitation and professional services. EFTA has committed to supporting significant investment in India, creating potential opportunities for manufacturing and export-oriented industries.
The agreement is expected to help Indian companies diversify their export destinations and integrate more closely with European value chains.
The government is also working to increase awareness among exporters about the preferential access available under the agreement. Better utilisation of TEPA could help Indian businesses expand their presence in EFTA markets and contribute to the country’s broader export growth strategy.