Overview

• Switzerland’s ratification marks the end of a 16-year negotiation and clears the last legal hurdle after Iceland, Liechtenstein and Norway had approved the pact.
• The Trade and Economic Partnership Agreement will enter into force in October 2025 with phased tariff dismantling over up to ten years for specific goods.
• EFTA states have committed $100 billion in investment over 15 years, targeting pharmaceuticals, IT, textiles and other sectors to boost India’s industrial growth.
• The deal includes streamlined customs procedures, enhanced intellectual property protections and a framework for sustainable trade practices.
• Implementation preparations involve regulatory coordination between New Delhi and EFTA capitals, the launch of an EFTA desk in India and stakeholder engagement with business associations.