The India-European Free Trade Association (EFTA)
♦ The India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA) comes into effect from 1 October 2025.
♦ The agreement was signed on the 10th of March 2024 in New Delhi.
♦ EFTA is an important regional group with several growing opportunities for enhancing international trade in goods and services.
♦ EFTA countries are Iceland, Liechtenstein, Norway, and Switzerland, and among them, Switzerland is the largest trading partner of India, followed by Norway.
♦ Trade and Economic Partnership Agreement is a modern and ambitious agreement that incorporates, for the first time in any Free Trade Agreement signed by India which is a commitment linked to investment and job creation.
♦ The agreement focuses on market access related to goods, trade facilitation, investment promotion, market access to services, intellectual property rights, trade and sustainable development.
♦ Under it, EFTA’s market access covers 100 percent of non-agricultural products and tariff concessions on Processed Agricultural Products.
♦ The agreement also offers a binding commitment of 100 billion US dollars investment in India in the next 15 years.
Posted Date: October 1, 2025
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