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Informist, Wednesday, Oct. 7, 2026

 

NEW DELHI – India's Trade and Economic Partnership Agreement with the European Free Trade Association will ensure "predictability" for Indian businesses expanding overseas, Commerce Secretary Rajesh Agrawal said Wednesday, urging industry to utilise the trade agreement better. "Tariffs will remain stable for the foreseeable future, with no surprises. Businesses can, therefore, make investments, build supply chains and plan for the future with confidence," Agrawal said at an outreach event. 

 

"He urged Indian companies to partner with businesses in the EFTA states and build value chains together, from inputs to final products, for greater reliability on both sides," the commerce ministry said in a release. 

 

The Trade and Economic Partnership Agreement is India's first free trade agreement with a developed group of European Free Trade Association countries--comprising Iceland, Liechtenstein, Norway, and Switzerland. It came into effect on Oct. 1. 

 

According to Agrawal, the European Bloc's high-income markets demand quality and values it. "If you are able to create quality products in this market, then you are ready for any other market," he told the Indian industry. "Quality earned in these markets will be appreciated and valued in every market," he said. He also said there is a big opportunity for farm exports to these countries, as duties on many farm products have been brought down to zero, the release added.

 

Agrawal said European Free Trade Association states import goods and services worth more than $500 billion every year, making them an important market for Indian exports. He asked export bodies, industry groups and state governments to make a five-year plan for each European Free Trade Association country, laying out how India can grow exports there and what issues still need to be fixed, the commerce ministry said.

 

The trade agreement with the European Free Trade Association comprises 14 chapters with the main focus on market access related to goods, rules of origin, trade facilitation, trade remedies, sanitary and phyto-sanitary measures, technical barriers to trade, investment promotion, market access to services, intellectual property rights, trade and sustainable development and other legal and horizontal provisions. Under the deal, the European free trade bloc has also committed investment of $100 billion into India. 

 

"India is a growing market with investment opportunities across sectors, and deeper business partnerships on both sides can take investment beyond this level," Agrawal said. India had total trade of $24.42 billion with the region in 2024-25 (Apr-Mar), which included imports worth $22.45 billion.  End

 

US$1 = INR 96.78

 

Reported by Vivek Das and Priyasmita Dutta

Edited by Avishek Dutta

 

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