India-EFTA Desk Bridging Trade Relations with Europe

India has launched a dedicated European Free Trade Association (EFTA) desk to enhance trade, investment, and business facilitation with European nations Iceland, Liechtenstein, Norway, and Switzerland. The Trade and Economic Partnership Agreement (TEPA), expected to be operational soon, promises a $100 billion investment commitment over 15 years.

In a strategic move, India unveiled the European Free Trade Association (EFTA) desk on Monday, aiming to foster deeper trade, investment, and business ties with the European bloc's members.

The dedicated platform follows the signing of a Trade and Economic Partnership Agreement (TEPA), a groundbreaking initiative expected to activate by the year's end, promising investment commitments of up to $100 billion over 15 years from the EFTA nations—namely Iceland, Liechtenstein, Norway, and Switzerland.

Commerce and Industry Minister Piyush Goyal emphasized the desk's role in providing seamless business facilitation services, promising Swiss watches, chocolates, and diamonds easier access to the Indian market via reduced tariffs, marking a significant evolution in Indo-European economic partnerships.

(With inputs from agencies.)