Trade
The India–EFTA trade agreement after its first year
The India–EFTA Trade and Economic Partnership Agreement entered into force on 1 October 2025. It was India's first trade agreement with European countries, and it came with an unusual investment commitment.
What it promised
- Tariff cuts on a large share of EU–India trade
- An objective for EFTA states to promote USD 100 billion of investment into India over 15 years
- One million direct jobs in India linked to that investment
Why it matters
The TEPA showed that India could conclude a modern trade agreement with high-income European economies. It served as a reference point for the EU–India negotiations that concluded in January 2026.
What to watch
- Investment announcements by Swiss and Norwegian companies in manufacturing, pharmaceuticals, energy and maritime
- Use of tariff preferences by Indian exporters to EFTA markets
- How companies with sites in both EFTA and EU countries manage the two agreements once the EU deal is in force
Read next
- India's trade deal with Switzerland and NorwayIn force since October 2025, with a USD 100 billion investment goal.
- Where the EU–India trade deal standsConcluded in January 2026, with signature expected by the end of the year. What the EU–India FTA changes, for whom, and when.
- Taking a European company to IndiaIndia is many markets. The decisions to make first.
