Commerce Secretary Rajesh Agrawal Urges Exporters to Seize Opportunities Under India–EFTA Trade Pact
Ø India-EFTA TEPA Provides Wide Market Access
with 99.6% of India’s Exports Covered: Commerce Secretary
·
Commerce Secretary Rajesh Agrawal delivered the
keynote address at a New Delhi outreach event for exporters on 7 October 2026.
The event was part of the 2nd India–EFTA Prosperity Summit and was organised by
the Department of Commerce.
·
The event focused on helping Indian businesses use
opportunities under the India–EFTA Trade and Economic Partnership Agreement
(TEPA), which entered into force on 1 October 2025.
·
Leaders from Iceland, Liechtenstein, Norway and
Switzerland were in New Delhi to mark the Agreement’s first year and discuss
the way forward.
·
EFTA’s tariff commitments cover 92.2% of tariff
lines, accounting for 99.6% of India’s exports, with full coverage of
non-agricultural products. India’s commitments cover 82.7% of tariff lines,
accounting for 95.3% of EFTA exports.
·
Agrawal said TEPA offers businesses greater
predictability, supporting investment, supply-chain development and long-term
planning.
·
He encouraged Indian and EFTA businesses to build
joint value chains, from inputs to finished products, to improve reliability on
both sides.
·
He urged exporters to meet the high
quality standards of EFTA markets, noting that quality products
developed for those markets can compete elsewhere.
·
He highlighted agricultural export opportunities,
including products for which duties have fallen to zero, and encouraged
exporters to establish long-term supply.
·
The EFTA States import goods and services worth
more than US$500 billion annually, offering a substantial market for Indian
exports.
·
Agrawal called on Export Promotion Councils,
industry associations and State Governments to take TEPA’s opportunities to
businesses nationwide.
·
He asked stakeholders to prepare five-year action
plans for each partner country, identifying market growth opportunities and
non-tariff issues to address.
·
He highlighted TEPA’s investment commitment: EFTA
States will aim to increase investment in India by US$50 billion within 10
years and a further US$50 billion in the following five years, and aim to
facilitate the generation of one million jobs within 15 years.
·
He said India’s expanding market and cross-border
business partnerships could support investment beyond the Agreement’s stated
targets.
Commerce
Secretary Rajesh Agrawal delivered the keynote address to Export Promotion Councils,
industry associations and exporters, as well as representatives of business from
the EFTA States, at the Outreach Event for Major Exporters to promote utilisation
of opportunities under the India-European Free Trade Association (EFTA) Trade and
Economic Partnership Agreement (TEPA) in New Delhi, on 7 October, 2026. The event
formed part of the 2nd India-EFTA Prosperity Summit 2026 and was organised by the
Department of Commerce.
TEPA
entered into force on 1 October 2025. Mr. Agrawal said that leaders from all four
EFTA States — Iceland, Liechtenstein, Norway and Switzerland — are in New Delhi
to mark the first year of the Agreement and to guide the way forward.
Mr.
Agrawal said that India and the EFTA States have opened their markets to each other.
EFTA's commitments cover 92.2 per cent of its tariff lines, accounting for 99.6
per cent of India's exports, with full coverage of non-agricultural products. India's
commitments cover 82.7 per cent of tariff lines, accounting for 95.3 per cent of
EFTA exports.
The
Commerce Secretary said that the Agreement is not only about tariffs. Its most important
element for business is predictability. Tariffs will remain stable for the foreseeable
future, with no surprises. Businesses can therefore make investments, build supply
chains and plan for the future with confidence. He urged Indian companies to partner
with businesses in the EFTA States and build value chains together, from inputs
to final products, for greater reliability on both sides.
Mr.
Agrawal said that the EFTA States are high-income markets that demand quality and
value it. "If you are able to create quality products in this market, then
you are ready for any other market," he said. Quality earned in these markets
will be appreciated and valued in every market.
He
said that agriculture also has a large export opportunity in these high-consumption
markets, where duties on many products have come down to zero. Exporters should
identify these products and build long-term supply to the EFTA States.
The
Commerce Secretary said that the EFTA States together import goods and services
worth over half a trillion US dollars a year and this provides an important market
for India's exports.
Mr.
Agrawal called on the Export Promotion Councils, industry associations and State
Governments to take the opportunities of the Agreement to businesses in every part
of the country, so that they understand what a free trade agreement offers. He asked
them to prepare an action plan with each partner country for each market for the
next five years, setting out how India will grow in each market and the non-tariff
issues to be addressed.
"The
idea is not that businesses in EFTA countries only see India as an extension of
their market. The idea is also that businesses in India should see the market of
EFTA countries as an extension of their market," he said.
The
Commerce Secretary said that a key feature that sets TEPA apart from other agreements
is its investment commitment. Under Article 7.1 of the Agreement, "the EFTA
States shall aim to increase foreign direct investment from investors of the EFTA
States into India by 50 billion (US dollars) within 10 years from the entry into
force of this Agreement and an additional 50 billion (US dollars) in the succeeding
5 years", and "shall aim to facilitate the generation of 1 million jobs
within 15 years in India".
Mr.
Agrawal said that India is a growing market with investment opportunities across
sectors, and that deeper business partnerships on both sides can take investment
beyond this level.