The landmark Trade and Economic Partnership Agreement (TEPA) between India and the European Free Trade Association (EFTA) countries (Switzerland, Iceland, Liechtenstein, and Norway) comes into effect from Wednesday.
The occasion was marked by a high-level event in New Delhi hosted by Commerce Minister Piyush Goyal.
In a post on X, Goyal said, “Truly a historic day as the India-EFTA Trade and Economic Partnership Agreement (TEPA) comes into force. This will unlock new opportunities for trade, investment & job creation, benefiting our people & businesses.”
Swiss State Secretary for Economic Affairs Helene Budliger Artieda represented Switzerland.
“This agreement is more than a legal document. It is a win-win partnership for our countries. The strong presence of companies from Switzerland and other EFTA countries at today’s prosperity summit speaks for itself. These businesses are here because they believe in India and are ready to use the Trade and Economic Partnership Agreement,” State Secretary Budliger said.
“They see the potential, they want to invest, and they are ready to be part of India’s growth story. Swiss and Indian economies are complementary. TEPA will bring these complementarities together for the benefit of both Switzerland and India,” State Secretary Budliger said.