Overview

• TEPA took effect on October 1, making it India’s first free trade agreement with Switzerland, Norway, Iceland and Liechtenstein.
• EFTA governments committed to mobilize $100 billion in phased FDI over 15 years, targeting sectors such as renewable energy, life sciences, digital transformation and engineering, with a goal of one million direct jobs.
• Tariff schedules are active, with EFTA offering concessions on 92.2% of tariff lines covering 99.6% of India’s exports, while India opens 82.7% of lines with protections for dairy, soya, coal and select agricultural products.
• Services access broadens across 105 sub-sectors, with Mutual Recognition Agreements for professions including nursing, accountancy and architecture to support skilled mobility.
• A dedicated India–EFTA Desk, operational since February 2025, is serving as a single-window for investors, as Swiss envoy Maya Tissafi calls the pact a milestone after 16 years of negotiations.