The India-EFTA (European Free Trade Association) free trade agreement (FTA) will come into effect from October 1, 2025, India’s commerce minister, Piyush Goyal, said in a statement on Monday, July 21. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland. Minister Goyal said that the two sides had signed a Trade and Economic Partnership Agreement (TEPA) on March 10 last year.
He said that all four countries have ratified the FTA and lodged their documents with the repository in Norway. He stated that the EFTA Bloc has committed an investment of $100 billion of which $50 billion will be invested within 10 years after the implementation of the agreement and another $50 billion in the following five years.