Commerce Secretary Highlights Export Opportunities Under India-EFTA TEPA

(MENAFN- KNN India) New Delhi, Oct 7 (KNN) Commerce Secretary Rajesh Agrawal has called on Indian exporters, industry associations and state governments to make greater use of opportunities under the India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA).

Speaking at an outreach event for major exporters in New Delhi, Agrawal said EFTA's commitments cover 92.2 Percent of tariff lines, accounting for 99.6 Percent of India's exports, with full coverage of non-agricultural products. India's commitments cover 82.7 Percent of tariff lines, representing 95.3 Percent of EFTA exports.

TEPA, covering Iceland, Liechtenstein, Norway and Switzerland, entered into force on October 1, 2025. Leaders from all four EFTA countries are in New Delhi to mark the first anniversary of the agreement.

Agrawal said the agreement provides greater tariff predictability and urged Indian businesses to build partnerships and supply chains with companies in EFTA countries. He also highlighted opportunities for agricultural exports, with duties on several products reduced to zero.

The Commerce Secretary asked Export Promotion Councils, industry associations and state governments to prepare five-year market-specific action plans with EFTA countries, including measures to address non-tariff issues.

Under Article 7.1 of TEPA, EFTA states have committed to aim for USD 50 billion in additional foreign direct investment in India within 10 years of the agreement coming into force and another USD 50 billion in the following five years.

The agreement also includes a target to facilitate the creation of one million jobs in India over 15 years.

(KNN Bureau)

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