New Delhi: India and the European Free Trade Association (EFTA), comprising Switzerland, Norway, Iceland, and Liechtenstein, have inaugurated the India-EFTA Desk, marking a significant step toward deeper economic collaboration. The initiative follows the recently concluded India-EFTA Trade and Economic Partnership Agreement (TEPA), making EFTA the first European bloc to formalize a trade pact with India.
Union Minister for Commerce and Industry Piyush Goyal hailed TEPA as a landmark agreement, underscoring India’s growing role in global trade. “This desk will serve as the bridge between businesses on both sides, ensuring transparency, trust, and ease of doing business,” Goyal said at the launch event. He emphasized India’s ambition to exceed $100 billion in EFTA investments, reinforcing the country’s commitment to equitable and mutually beneficial trade relationships.
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.
Switzerland’s State Secretary for Economic Affairs, Helene Budliger Artieda, described TEPA as a “new chapter for investment promotion and cooperation,” highlighting over CHF 10 billion in Swiss foreign direct investment (FDI) that has created more than 146,000 jobs in India, particularly in manufacturing. She projected a surge in investments across precision industries, chemicals, food processing, and pharmaceuticals. Artieda suggested establishing an Invest India office in Switzerland could further drive investment flows.
Norway’s State Secretary of Trade and Industry, Tomas Norvoll, compared TEPA to an airport, with the EFTA Desk serving as the landing strip for businesses. He noted that the number of Norwegian companies operating in India has doubled in the last decade, with Norway’s sovereign wealth fund holding assets worth $31.4 billion in the country.
Iceland’s Permanent Secretary for Foreign Affairs, Martin Eyjolfsson, called TEPA “the most significant trade agreement EFTA has signed in decades,” reinforcing India’s importance as a key economic partner for Europe. He highlighted growing collaboration in renewable energy, seafood, and pharmaceuticals, positioning TEPA as a stabilizing force amid global economic uncertainty.
Liechtenstein’s Minister of External Affairs, Education, and Sport, Dominique Hasler, emphasized the Desk’s role in supporting high-value manufacturing and innovation-driven industries. She cited the success of Liechtenstein-based Hilti in India and expressed optimism that TEPA would encourage more businesses from the principality to expand their footprint in the country.
The India-EFTA Desk aims to drive investment in renewable energy, life sciences, engineering, and digital transformation. Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT), Amardeep Singh Bhatia, noted that TEPA will facilitate joint ventures, SME collaborations, and technology partnerships while streamlining regulatory navigation for EFTA businesses.
Union Minister of State Shri Jitin Prasada underscored EFTA’s strategic significance in advancing India’s development goals. He pointed to Norway’s expertise in green shipping, Switzerland’s advancements in rail networks, Iceland’s leadership in geothermal energy, and Liechtenstein’s high-value manufacturing. He also cited research collaborations between the Indian Institutes of Technology (IITs) and the Arctic University of Norway as examples of TEPA’s broader impact beyond trade.
Following the inauguration, a high-level Business Roundtable chaired by Goyal convened to explore opportunities and address trade challenges. Discussions identified key sectors, including seafood and maritime industries, energy, financial services, pharmaceuticals, engineering, and food processing.
Looking ahead, the India-EFTA Desk will serve as the primary platform for fostering continuous business-government dialogue. The Indian government has pledged to work closely with EFTA partners to unlock TEPA’s full potential. Concluding the discussions, Goyal called TEPA a “model agreement” and reaffirmed India’s readiness to build a robust future with EFTA, stating, “India is ready when you are. Let’s build this future together.”
With the official inauguration of the EFTA Desk, India and EFTA have entered a new era of economic cooperation, ensuring that businesses from both regions thrive in an era of sustainable and innovation-driven growth.
