India–EFTA Trade Pact With $100 Billion Investment Comes Into Force
ECONOMY & POLICY

India–EFTA Trade Pact With $100 Billion Investment Comes Into Force

The Prosperity Summit in New Delhi marked the entry into force of the India–EFTA Trade and Economic Partnership Agreement (TEPA), which sets an investment target of $100 billion over 15 years and aims to create one million direct jobs in India while opening access to goods and services across Switzerland, Norway, Iceland and Liechtenstein.
Union Commerce Minister Piyush Goyal hailed TEPA as a defining moment in India’s economic engagement with Europe, describing it as a “trusted partnership between friends” rooted in mutual respect. He emphasised that the pact is the first of its kind to include a firm investment commitment, balancing interests and strengthening investor confidence.
The agreement will boost cooperation across life sciences, clean energy, precision engineering, food processing, AI, education, healthcare, shipbuilding and advanced manufacturing. Goyal highlighted complementarities between India’s scale and talent and EFTA’s strengths in innovation and finance, adding that the partnership will enhance growth while protecting sustainability.
He underlined that the pact is not just about tariff cuts but about establishing a stable and predictable framework that signals India and EFTA’s commitment to inclusive growth. The deal is expected to particularly benefit MSMEs, farmers, and services exporters by improving standards cooperation, reducing compliance costs and providing premium-market access.
Swiss State Secretary for Economic Affairs Helene Budliger Artieda described the pact as a “win-win partnership” and reaffirmed EFTA businesses’ belief in India’s growth story. Commerce Secretary Rajesh Agrawal added that the agreement marks the start of a new era of innovation and prosperity, reflecting global confidence in India’s trajectory towards becoming the world’s third-largest economy.
TEPA’s implementation will focus on sectoral roadmaps, MSME onboarding, logistics facilitation, and stronger FTA utilisation. The partnership harnesses the “Power of Five”: India’s scale, Switzerland’s finance and precision manufacturing, Norway’s maritime expertise, Iceland’s clean-tech, and Liechtenstein’s specialised engineering. 

The Prosperity Summit in New Delhi marked the entry into force of the India–EFTA Trade and Economic Partnership Agreement (TEPA), which sets an investment target of $100 billion over 15 years and aims to create one million direct jobs in India while opening access to goods and services across Switzerland, Norway, Iceland and Liechtenstein.Union Commerce Minister Piyush Goyal hailed TEPA as a defining moment in India’s economic engagement with Europe, describing it as a “trusted partnership between friends” rooted in mutual respect. He emphasised that the pact is the first of its kind to include a firm investment commitment, balancing interests and strengthening investor confidence.The agreement will boost cooperation across life sciences, clean energy, precision engineering, food processing, AI, education, healthcare, shipbuilding and advanced manufacturing. Goyal highlighted complementarities between India’s scale and talent and EFTA’s strengths in innovation and finance, adding that the partnership will enhance growth while protecting sustainability.He underlined that the pact is not just about tariff cuts but about establishing a stable and predictable framework that signals India and EFTA’s commitment to inclusive growth. The deal is expected to particularly benefit MSMEs, farmers, and services exporters by improving standards cooperation, reducing compliance costs and providing premium-market access.Swiss State Secretary for Economic Affairs Helene Budliger Artieda described the pact as a “win-win partnership” and reaffirmed EFTA businesses’ belief in India’s growth story. Commerce Secretary Rajesh Agrawal added that the agreement marks the start of a new era of innovation and prosperity, reflecting global confidence in India’s trajectory towards becoming the world’s third-largest economy.TEPA’s implementation will focus on sectoral roadmaps, MSME onboarding, logistics facilitation, and stronger FTA utilisation. The partnership harnesses the “Power of Five”: India’s scale, Switzerland’s finance and precision manufacturing, Norway’s maritime expertise, Iceland’s clean-tech, and Liechtenstein’s specialised engineering. 

Next Story
Infrastructure Urban

Bridgestone India Honours Changemakers at Mobility Impact Awards 2025

Bridgestone India announced the winners of the 5th edition of its Mobility Social Impact Awards (MSIA) 2025, celebrating organisations that have leveraged mobility as a catalyst for social transformation. The award ceremony, held in Pune, brought together industry leaders, policymakers, and social innovators dedicated to advancing inclusive and sustainable mobility solutions.The awards were presented across two categories — Empowerment of Vulnerable Communities and Road Safety Innovation and Excellence — and felicitated by Dr. Girish Kulkarni, noted social worker and Founder of Snehalaya...

Next Story
Infrastructure Energy

GAIL to Set Up Bengaluru CBG Plant Under New Concession Pact

GAIL (India) Limited has signed a 20-year concession agreement with the Bengaluru City Municipal Corporation (BBMP) to set up a compressed biogas (CBG) plant in the city. The project, expected to produce around 10 tonnes of CBG daily, will utilise municipal solid waste as feedstock, contributing to clean energy generation and efficient waste management. The CBG produced will be used in GAIL’s City Gas Distribution network to promote cleaner fuel usage. The initiative aligns with the government’s Sustainable Alternative Towards Affordable Transportation (SATAT) scheme and GAIL’s broader ..

Next Story
Infrastructure Energy

Uttarakhand HC Lifts 31-Year Ban on ONGC’s Contractual Hiring

The Uttarakhand High Court has lifted a 31-year-old ban on the Oil and Natural Gas Corporation (ONGC) from hiring contractual workers, a restriction imposed in 1993. The decision enables ONGC’s Dehradun establishment to employ personnel on a contractual basis to meet operational requirements. The long-standing prohibition had limited ONGC’s ability to fill vacancies in its technical and administrative departments, often leading to project delays and higher dependence on outsourcing. With the court’s directive, the public sector enterprise can now proceed with temporary recruitments whil..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?