EFTA trade pact strengthens economic cooperation
Agreement links India with Iceland Norway Switzerland Liechtenstein
image for illustrative purpose
New Delhi: The Trade and Economic Partnership Agreement (TEPA) between India and the European Free Trade Association (EFTA) has completed two years since its signing, with the government on Tuesday highlighted that the pact is strengthening cooperation in trade, investment, services and technology.
The agreement, which came into effect on October 1, 2025, is expected to deepen India’s economic ties with the EFTA member countries -- Iceland, Liechtenstein, Norway and Switzerland -- while supporting industrial growth and export expansion, Ministry of Commerce & Industry said.
Prime Minister Narendra Modi said India has steadily built a strong network of trade partnerships in recent years. “The fact that India now has FTAs with 38 countries reflects a major shift in the country’s trade strategy,” PM Modi stated. “These agreements connect India with economies across continents and offer Indian producers the opportunity to access diverse global markets,” Prime Minister Modi mentioned.
The Prime Minister also noted that India’s service sector has already established the country as a hub for Global Capability Centres.
With clearer regulations and better mobility provisions under trade agreements, Indian professionals are expected to gain more opportunities abroad.
“India’s manufacturing sector has made significant progress in recent years and the FTAs will help integrate Indian products more deeply into global supply chains,” PM Modi explained.
