Commerce Secretary Holds Talks With Swiss Counterpart To Advance India-EFTA Trade Pact Implementation

(MENAFN- KNN India) New Delhi, May 9 (KNN) Seeking to advance the implementation of the India–EFTA Trade and Economic Partnership Agreement (TEPA) and strengthen bilateral trade and investment ties, Commerce Secretary Rajesh Agarwal this week held bilateral talks with his Swiss counterpart and reviewed the progress made so far.

Agarwal concluded his official two-day visit on May 8, 2026.

With a focus on translating the agreement's market access provisions into tangible business partnerships, investments, and greater industry participation, Agarwal held bilateral talks with Helene Budliger Artieda, State Secretary, Swiss State Secretariat for Economic Affairs (SECO).

Both sides reviewed progress since TEPA became operational and discussed steps to expand trade, enhance regulatory cooperation, and address non-tariff barriers.

Agarwal emphasised the need for early resolution of implementation issues to enable businesses to fully utilise the agreement.

During his keynote address at 55th St. Gallen Symposium through a video message, Commerce and Industry Minister Piyush Goyal noted that within 200 days of TEPA's rollout, Indian products have gained entry into Swiss markets, services trade has picked up, and investment interest has strengthened.

Opportunities Across Sectors and States

TEPA, India's first agreement with the European Free Trade Association (EFTA), offers improved market access on over 92 per cent of tariff lines, covering nearly all Indian exports.

The pact is expected to benefit diverse sectors and regions, including grapes from Maharashtra, coffee from Karnataka, spices from Kerala, seafood from Andhra Pradesh, and horticulture from the North Eastern states.

At the same time, India has safeguarded sensitive sectors such as dairy to protect domestic producers.

Investment Push and Business Engagement

Commerce Secretary Agarwal also addressed a high-level business roundtable with Swiss industry leaders, focusing on boosting investments in sectors such as pharmaceuticals, biotechnology, precision engineering, clean energy, and advanced manufacturing.

He invited companies from Switzerland and the wider EFTA region to leverage TEPA for building long-term partnerships in manufacturing, technology, and innovation.

(KNN Bureau)

MENAFN09052026000155011030ID1111090662