India–EFTA trade pact takes effect, targeting $100 bn investment and one mn jobs, hailed as a milestone partnership.
The India–EFTA Trade and Economic Partnership Agreement (TEPA) officially came into force at the Prosperity Summit in New Delhi, setting an ambitious target of USD 100 billion in investments over 15 years and the creation of one million direct jobs in India. The pact grants expanded access to goods and services between India and the four EFTA nations, Switzerland, Norway, Iceland, and Liechtenstein.
Union Minister of Commerce and Industry Piyush Goyal lauded TEPA as a historic agreement and the first trade pact with a firm investment commitment, ensuring balance and fairness. He described it as a trusted partnership that opens opportunities across life sciences, clean energy, AI, tourism, and education.
Swiss State Secretary Helene Budliger Artieda called the agreement a “win-win partnership,” while Commerce Secretary Rajesh Agrawal said it marked a new era of shared prosperity. The pact emphasises support for MSMEs, agri-marine exporters, and services professionals, while fostering sectoral roadmaps, improved logistics, and innovation-driven cooperation. Business announcements at the summit reflected strong EFTA investor confidence in India’s growth story.
Source: PIB
