India Pushes Faster TEPA Resolution
India has urged for the early resolution of implementation-related challenges under the India–EFTA Trade and Economic Partnership Agreement (TEPA) to ensure businesses from both sides can fully benefit from the pact.
The issue was highlighted by Rajesh Agrawal during his official visit to Switzerland on May 6-7, aimed at strengthening bilateral trade and investment engagement and reviewing the progress of the agreement since it came into force in October 2025.
During the visit, Agrawal held bilateral discussions with Helene Budliger Artieda. Both sides reviewed developments under TEPA and explored ways to enhance trade, investments, regulatory cooperation, business connectivity and the removal of non-tariff barriers.
According to an official statement, the Commerce Secretary emphasized the importance of resolving operational and implementation bottlenecks at an early stage so enterprises can maximize opportunities under the agreement. However, specific issues were not disclosed.
The European Free Trade Association (EFTA) comprises Iceland, Liechtenstein, Norway and Switzerland.
Meanwhile, Piyush Goyal stated that India has signed nine free trade agreements with 38 developed countries in recent years. He noted that within 200 days of TEPA’s implementation, Indian product categories have entered the Swiss market, services trade has accelerated and investment interest has strengthened.
India’s exports to Switzerland crossed US$ 1.2 billion in FY26, while services exports stood at US$ 6.88 billion in 2024, generating a trade surplus of US$ 4.25 billion.
