India and the European Free Trade Association (EFTA), comprising Switzerland, Norway, Iceland, and Liechtenstein, have taken a significant step in deepening economic collaboration with the launch of the India-EFTA Desk. This initiative follows the signing of the India-EFTA Trade and Economic Partnership Agreement (TEPA), making EFTA the first European bloc to formalise a trade pact with India. Union Minister for Commerce and Industry Shri Piyush Goyal hailed TEPA as a landmark agreement, emphasising India’s growing global trade presence. “This desk will serve as a bridge, ensuring transparency, trust, and ease of doing business,” he stated, outlining India’s ambition to surpass $100 billion in EFTA investments. The desk is aimed at providing structured support for EFTA businesses interested in investing or expanding operations in India. The inauguration event was attended by high-ranking dignitaries from all four EFTA countries, reinforcing their commitment to strengthening economic ties. Switzerland's State Secretary for Economic Affairs, Ms. Helene Budliger Artieda, praised TEPA as a “new chapter” for investment promotion. She highlighted Switzerland’s CHF 10 billion in FDI to India, which has generated over 146,000 jobs, especially in manufacturing. She also suggested that an Invest India office in Switzerland could further boost investments. Norway’s State Secretary of Trade and Industry, Tomas Norvoll, likened TEPA to an airport, with the EFTA Desk serving as the “landing strip” for businesses. He noted the doubling of Norwegian companies in India over the last decade, driven by investments from Norway’s sovereign wealth fund, now valued at $31.4 billion. Iceland’s Permanent Secretary for Foreign Affairs, Martin Eyjolfsson, called TEPA the “most significant trade agreement EFTA has signed in decades,” emphasizing India’s strategic importance. He highlighted growing cooperation in renewable energy, seafood, and pharmaceuticals. Liechtenstein’s Minister of External Affairs, Dominique Hasler, stressed the Desk’s role in facilitating high-value manufacturing and innovation. She pointed to the success of Hilti in India and expressed optimism that TEPA would encourage more companies from Liechtenstein to expand. The India-EFTA Desk will drive investment in sectors such as renewable energy, life sciences, engineering, and digital transformation. Shri Amardeep Singh Bhatia, Secretary of DPIIT, noted that TEPA would foster joint ventures, SME collaborations, and technology partnerships, with the Desk assisting EFTA businesses in navigating regulatory processes. Union Minister of State Shri Jitin Prasada underscored EFTA’s strategic importance to India’s development goals. He highlighted Norway’s expertise in green shipping, Switzerland’s advances in rail networks, Iceland’s leadership in geothermal energy, and Liechtenstein’s high-value manufacturing as key areas of cooperation, alongside research collaborations between Indian Institutes of Technology (IITs) and Norway’s Arctic University. Following the Desk’s inauguration, a Business Roundtable chaired by Shri Piyush Goyal identified opportunities in sectors such as seafood, energy, pharmaceuticals, engineering, and food processing. The India-EFTA Desk will serve as the primary platform for ongoing business-government dialogue. The Indian government has committed to working closely with EFTA partners to unlock the full potential of TEPA. Concluding the discussions, Shri Piyush Goyal described TEPA as a “model agreement,” reaffirming India’s readiness to build a prosperous future with EFTA: “India is ready when you are. Let’s build this future together.” The inauguration of the India-EFTA Desk marks the beginning of a new era of economic cooperation, ensuring that businesses from both regions thrive in an era driven by sustainability and innovation. (PIB)