India, Switzerland Signal Stronger Trade Ties Under EFTA Pact
Union Commerce and Industry Minister Piyush Goyal held a high-level meeting with Guy Parmelin in New Delhi, highlighting a shared commitment to expand cooperation under the India–EFTA Trade and Economic Partnership Agreement (TEPA) and deepen long-term economic engagement.
The meeting, held on the sidelines of the India AI Impact Summit 2026, focused on strengthening collaboration across precision engineering, life sciences, renewable energy, advanced technology and research, while balancing innovation with responsible growth.
India highlighted its emergence as the world’s fourth-largest economy, with projected GDP of US$ 4.51 trillion in 2026 and reiterated its focus on expanding investment flows, enhancing regulatory coordination and building stronger institutional partnerships under TEPA. The government also showcased India’s capabilities in pharmaceuticals, vaccines, biotechnology and advanced medical research, inviting greater Swiss participation in these sectors.
To facilitate smoother market entry, India has established a dedicated EFTA Desk at Invest India to support Swiss and other EFTA companies exploring expansion opportunities in the country.
Both leaders emphasized that sustained high-level engagement will be critical to boosting bilateral trade and investment flows, unlocking new growth avenues for businesses in both economies.
TEPA marks India’s first free trade agreement with the European Free Trade Association (EFTA) bloc comprising Switzerland, Norway, Iceland and Liechtenstein and serves as a strategic gateway for connecting Make in India products to high-value European markets. The agreement is expected to create opportunities across sectors, benefitting farmers, MSMEs, startups, professionals and advanced manufacturing industries while strengthening India’s global trade integration.
