India-EFTA TEPA: four member states, a 100 billion dollar investment aim and one million jobs

Background

The European Free Trade Association has four member states: Iceland, Liechtenstein, Norway and Switzerland. The India-EFTA Trade and Economic Partnership Agreement was signed in New Delhi on 10 March 2024 and entered into force on 1 October 2025. Under the agreement the parties aim to mobilise USD 100 billion of investments in India over fifteen years, supported by an investment facilitation mechanism, and to support one million direct jobs. India and EFTA together account for a combined gross domestic product of about USD 5.4 trillion. The agreement covers cooperation in areas such as precision manufacturing, clean technologies and trade in services, which has roughly doubled in the last decade.