Mumbai, Oct. 11 -- India and EFTA signed the Trade and Economic Partnership Agreement (TEPA) on 10 March 2024 which took effect on 1 October 2025, marking India's first FTA with four developed European nations - Switzerland, Norway, Iceland and Liechtenstein. It represents a strategic convergence between India's Atmanirbhar Bharat vision and EFTA's search for resilient, diversified partnerships.

TEPA commits to providing 100 billion USD in investments and 1 million direct jobs over 15 years, the first binding pledge of its kind in any Indian FTA. EFTA covers 92.2% of tariff lines (99.6% of India's exports) while India covers 82.7% (95.3% of EFTA's exports), protecting key sectors like dairy, soya coal and agriculture.

The agreement cons...