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India–EFTA Trade Deal Takes Effect With $100 Billion Pledge, Oversight Plan

Implementation now pivots to a formal investment‑tracking system with a potential investment treaty to reassure private capital.

Union minister Piyush Goyal with officials and business persons of India and EFTA countries at the Prosperity Summit. (X-SECO_StateSec)
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Overview

  • The India–EFTA TEPA came into force on October 1, confirmed by Commerce Minister Piyush Goyal at the Prosperity Summit in New Delhi.
  • EFTA’s $100 billion private‑sector commitment is structured as $50 billion over the first 10 years and another $50 billion in the following five, with delivery tracked by a new monitoring mechanism.
  • India retains a clawback safeguard allowing partial withdrawal of tariff concessions if promised investments do not materialise.
  • Swiss official Helene Budliger Artieda said EFTA wants a Bilateral Investment Treaty with India to provide legal certainty for companies, noting discussions on a model text.
  • Goyal said the EFTA side indicated potential for an additional $150 billion in investment after India finalises data exclusivity in IP laws, while the pact liberalises 92.2% of EFTA tariff lines and 82.7% of India’s, with the effective duty on gold unchanged.