India Eyes Bigger Gains Than Baked-In $100 Billion As EFTA Trade Pact Kicks In
The landmark pact links market access with investment and job creation for the first time in any Indian FTA.
As the India–EFTA Trade and Economic Partnership Agreement (TEPA) comes into effect today, Commerce Minister Piyush Goyal said New Delhi is hopeful of attracting far more than the $100 billion in investments already committed under the deal. The landmark pact links market access with investment and job creation for the first time in any Indian FTA.
“After Australia and the UAE, yet another trade deal has come into force. By next year, the UK FTA will also be operational, and with EFTA and EU negotiations, we will have effectively covered the entire European market,” Goyal said.
He underlined that India had not concluded trade agreements with Europe for over two decades, but that momentum has now shifted. Switzerland is already in talks with the Finance Ministry for a Bilateral Investment Treaty, while robust Intellectual Property Rights (IPR) chapters are being built into both EU and EFTA negotiations.
With TEPA, Indian exporters gain preferential access in high-value markets, while the government expects the investment commitments to translate into stronger manufacturing, new jobs and deeper integration into global value chains.
