Commerce Secretary urges exporters to leverage opportunities under India-EFTA trade agreement

Commerce Secretary Rajesh Agarwal addressed exporters and industry representatives at an event in New Delhi. The program was part of the 2nd India-EFTA Prosperity Summit 2026, aimed at maximizing the benefits of the Trade and Economic Partnership Agreement (TEPA).

Agarwal noted that the agreement covers 99.6 percent of India's exports. He stated that India has opened its markets with EFTA member countries, including Iceland, Liechtenstein, Norway, and Switzerland.

The Commerce Secretary emphasized that this agreement is not limited to tariff reductions. He highlighted that the greatest benefit is predictability in trade, which allows companies to invest with confidence and develop supply chains.

He urged Indian companies to partner with businesses in EFTA countries to build value chains. He noted that there is a high demand for quality products in the high-income markets of EFTA nations.

Agarwal advised exporters to prepare a concrete action plan for each partner country for the next five years. He also stressed the importance of identifying opportunities in the export of agricultural products.

A key feature of the agreement is the investment commitment. Under this, a target has been set to attract 100 billion dollars in foreign direct investment from EFTA investors into India and create 1 million jobs within 15 years.

The Commerce Secretary stated that deep business partnerships between India and EFTA countries could take investment significantly beyond current levels. He called upon all stakeholders to take the opportunities provided by this agreement to every corner of the country.