Saralnama
The India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA) started on 1 October 2025. The deal was signed in New Delhi on 10 March 2024. It covers 14 chapters including market access for goods and services, trade facilitation, investment promotion, and intellectual property rights. EFTA countries include Iceland, Norway, Switzerland, and Liechtenstein. The agreement aims to boost trade by offering tariff concessions on many products, especially non-agricultural goods and processed foods. It also includes a commitment to attract $100 billion in foreign investment to India over 15 years. This investment is expected to create 1 million direct jobs in India. The deal is India’s first free trade agreement with a formal investment and job creation commitment. It will help Indian industries like machinery, textiles, organic chemicals, and processed foods to expand exports. The agreement also focuses on sustainable development and trade rules to support fair trade between India and EFTA countries. (Updated 2 Oct 2025, 09:17 IST; source: link)