India-EFTA trade pact to boost USD 100 billion worth of investments

India’s trade landscape marked a historic milestone as the India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA), signed on March 10, 2024, officially came into effect on October 1, 2025.

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According to a government release, this is India’s first Free Trade Agreement with four developed European nations: Switzerland, Norway, Iceland, and Liechtenstein. It also promises to bring in USD 100 billion in investments and create one million direct jobs over the next fifteen years.

Under the agreement, the EFTA nations have pledged to attract USD 50 billion in investments within the first ten years and an additional USD 50 billion over the next five years. These investments are expected to focus on sectors such as renewable energy, life sciences, digital transformation, and engineering. To facilitate these, a dedicated India-EFTA Desk has been set up as a single-window platform for investors.