India and the European Free Trade Association (EFTA) have taken a significant step towards deeper economic collaboration with the inauguration of the India-EFTA Desk on 10 February 2025. EFTA comprising Switzerland, Norway, Iceland, and Liechtenstein. This initiative follows the recently concluded India-EFTA Trade and Economic Partnership Agreement (TEPA), which positions EFTA as the first European bloc to formalize a trade pact with India. Union Minister for Commerce and Industry, Shri Piyush Goyal hailed TEPA as a landmark agreement, emphasizing India’s growing role in global trade.

♦  The bloc committed an investment of USD 100 billion -- USD 50 billion within 10 years after the implementation of the agreement and another USD 50 billion in the next five years - which would facilitate the creation of 1 million direct jobs in India.

♦  The India-EFTA Desk will provide structured support to EFTA businesses looking to invest, expand, or establish operations in India. High-ranking dignitaries from all four EFTA nations attended the launch, reaffirming their commitment to strengthening economic ties.