India Launches EFTA Desk To Strengthen Trade And Investment Ties with EFTA Nations

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EFTA Desk will serve as the main contact for EFTA businesses, providing market insights, addressing concerns, and supporting expansion.

EFTA desk is a key part of the India-EFTA Free Trade Agreement (TEPA), a Trade Agreement between India and EFTA, signed in 2024.

Key Highlights of TEPA

First-ever Binding FTA: binding commitment of $100 bn investment and 1 million direct jobs in the next 15 years has been given.
Tariff Reduction: EFTA eliminates 92.2% of tariff lines, benefiting 99.6% of India’s exports.
Market Access: Full access for non-agri products and concessions on Processed Agricultural Products (PAP).
Enhanced Services Access: Services offers from EFTA include-
- Mode 1: Digital delivery of services.
- Mode 3: Commercial presence.
- Mode 4: Easier temporary stay for key personnel.
Intellectual Property Rights (IPR): Aligns with TRIPS for strong protection.
Professional Recognition: Covers fields like nursing, chartered accountancy, and architecture.
Rules of Origin & Trade Remedies: Clear regulations to ensure smooth trade and safeguard interests.

Strict IPR rules could impact India’s generic drug industry.
Trade imbalances, especially due to high gold imports from Switzerland, need careful management.
The 16-year negotiation process reflects the complexity of aligning interests.

Formed in 1960, European Free Trade Association (EFTA) is the intergovernmental organisation of Iceland, Liechtenstein, Norway and Switzerland.
It was set up for the promotion of free trade and economic integration of its members.
Switzerland is India's largest EFTA trade partner, followed by Norway.