Overview

• New Delhi will host a launch event at Bharat Mandapam with Commerce Minister Piyush Goyal and ministers from Iceland, Liechtenstein, Norway and Switzerland.
• India will reduce tariffs to zero on roughly 80–85% of imports from the EFTA bloc, while Indian exports will receive duty-free access on about 99% of tariff lines in those markets.
• Sensitive categories such as agriculture and dairy are excluded from tariff cuts to safeguard domestic producers.
• EFTA members have committed $50 billion in the first decade and another $50 billion over the following five years, with the government estimating around one million direct jobs over 15 years.
• The pact is India’s first with a European grouping, and with Switzerland accounting for nearly all of India’s FY25 imports from EFTA, immediate export gains are expected to be modest due to already low tariffs.