India’s Trade and Economic Partnership Agreement with EFTA Comes into Effect

India’s Trade and Economic Partnership Agreement (TEPA) with the European Free Trade Association (EFTA) comprising Switzerland, Norway, Iceland and Liechtenstein has come into force from 1st October 2025. Under this landmark agreement, India will eliminate customs duties on 80-85% of imports from EFTA countries, while Indian exporters will gain duty-free access to 99% of products in EFTA markets. Consumers in India are expected to benefit from cheaper Swiss wine, chocolates, apparel, watches and other goods, while EFTA countries will gain duty-free access to Indian pharmaceuticals, dyes, textiles, and iron & steel products. The agreement also includes investment commitments of $100 billion over 15 years and the creation of 1 million direct jobs, strengthening India’s manufacturing and services sectors. With total imports from EFTA reaching $32.4 billion in 2024-25, this TEPA is set to enhance India’s global trade integration and competitiveness, providing significant economic growth, consumer benefits, and investment opportunities.