India, EFTA deal to come into force from Oct. 1: Goyal

 

The free trade agreement between India and the European Free Trade Association (EFTA) will come into force from October 1, 2025, Commerce and Industry Minister Mr Piyush Goyal said while speaking at an Assocham event in Mumbai. India and the four-nation EFTA had signed the FTA—officially named Trade and Economic Partnership Agreement (TEPA) —in March last year. EFTA comprises Switzerland, Norway, Iceland and Liechtenstein. All four countries have ratified the FTA. The documents have been launched with a repository in Norway, and the TEPA will come into effect from October 1. 

The TEPA is different from traditional trade agreements, as in return for access to Indian markets, the four-nation group has promised direct investments of $100 billion in India over the next 15 years that will facilitate the creation of one million direct jobs, as per a report.

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