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4h ago

India–EFTA Trade Pact Takes Effect With $100 Billion Investment Pledge

It is India’s first free trade agreement with the four EFTA states, featuring binding commitments on investment and job creation.

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EFTA
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Overview

  • Effective October 1, 2025, the TEPA covers Switzerland, Norway, Iceland and Liechtenstein, bringing India’s first FTA with these developed European economies into force.
  • EFTA offers tariff concessions on 92.2% of lines covering 99.6% of India’s exports, while India grants access on 82.7% of lines covering 95.3% of EFTA exports with safeguards for sensitive sectors.
  • EFTA states have pledged $50 billion in the first 10 years and an additional $50 billion in the next five years, with government projections of one million direct jobs over 15 years.
  • The pact expands services access across 105 sub-sectors and includes Mutual Recognition Agreements for professions such as nursing, accountancy and architecture to ease professional mobility.
  • A dedicated India–EFTA Desk, operational since February 2025, serves as a single-window for investment facilitation in areas including renewable energy, life sciences, engineering and digital transformation.