India-EFTA TEPA Provides Wide Market Access with 99.6% of India’s Exports Covered: Commerce Secretary
Commerce Secretary Shri Rajesh Agrawal delivered the keynote address to Export Promotion Councils, industry associations and exporters, as well as representatives of business from the EFTA States, at the Outreach Event for Major Exporters to promote utilisation of opportunities under the India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA) in New Delhi, today. The event formed part of the 2nd India-EFTA Prosperity Summit 2026 and was organised by the Department of Commerce.
TEPA entered into force on 1 October 2025. Shri Agrawal said that leaders from all four EFTA States — Iceland, Liechtenstein, Norway and Switzerland — are in New Delhi to mark the first year of the Agreement and to guide the way forward.
Shri Agrawal said that India and the EFTA States have opened their markets to each other. EFTA's commitments cover 92.2 per cent of its tariff lines, accounting for 99.6 per cent of India's exports, with full coverage of non-agricultural products. India's commitments cover 82.7 per cent of tariff lines, accounting for 95.3 per cent of EFTA exports.
The Commerce Secretary said that the Agreement is not only about tariffs. Its most important element for business is predictability. 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. 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.
Shri Agrawal said that the EFTA States are high-income markets that demand quality and value it. "If you are able to create quality products in this market, then you are ready for any other market," he said. Quality earned in these markets will be appreciated and valued in every market.
He said that agriculture also has a large export opportunity in these high-consumption markets, where duties on many products have come down to zero. Exporters should identify these products and build long-term supply to the EFTA States.
The Commerce Secretary said that the EFTA States together import goods and services worth over half a trillion US dollars a year and this provides an important market for India's exports.
Shri Agrawal called on the Export Promotion Councils, industry associations and State Governments to take the opportunities of the Agreement to businesses in every part of the country, so that they understand what a free trade agreement offers. He asked them to prepare an action plan with each partner country for each market for the next five years, setting out how India will grow in each market and the non-tariff issues to be addressed.
"The idea is not that businesses in EFTA countries only see India as an extension of their market. The idea is also that businesses in India should see the market of EFTA countries as an extension of their market," he said.
The Commerce Secretary said that a key feature that sets TEPA apart from other agreements is its investment commitment. Under Article 7.1 of the Agreement, "the EFTA States shall aim to increase foreign direct investment from investors of the EFTA States into India by 50 billion (US dollars) within 10 years from the entry into force of this Agreement and an additional 50 billion (US dollars) in the succeeding 5 years", and "shall aim to facilitate the generation of 1 million jobs within 15 years in India".
Shri Agrawal said that India is a growing market with investment opportunities across sectors, and that deeper business partnerships on both sides can take investment beyond this level.
