India-EFTA Trade Pact Boosts Key Exports: Piyush Goyal
By ThePip Desk
Commerce Minister Piyush Goyal highlights healthy growth in Indian exports to EFTA nations following the recent trade agreement implementation.
Commerce and Industry Minister Piyush Goyal stated that India’s exports of specific goods have registered a healthy growth in the European Free Trade Association bloc following the implementation of a trade agreement. India and EFTA implemented the trade and economic partnership agreement on October 1, 2025.
Understanding the EFTA Grouping and TEPA
The four-nation grouping comprises Iceland, Liechtenstein, Norway, and Switzerland.
Under the agreement, EFTA has committed to provide market access across specific parameters:
92.2 per cent of tariff lines opened by EFTA
99.6 per cent of India’s exports covered
100 per cent of non-agricultural products included
India has safeguarded sensitive domestic sectors such as dairy, soya, coal, and sensitive agricultural products.
Investment Commitments and Sector Growth
Minister Goyal stated that the pact marks an important milestone in India’s economic engagement with EFTA nations.
The agreement entails the following projections:
$100 billion in investments committed over the next 15 years
1 million direct jobs projected to be created
Export categories registering healthy growth include motor cars, heavy waters, and moulding patterns.
The minister explained that this framework will support greater investment, strengthen manufacturing and services sectors, and contribute to sustainable economic growth.