Union Commerce Minister Strengthens India–EFTA Partnerships In Liechtenstein

ENA Global 2026-01-08 14:43:16 New Delhi, Jan 8 (KNN) Union Minister of Commerce and Industry, Piyush Goyal, undertook an official visit to Liechtenstein on January 7, 2026, aimed at strengthening trade, investment, and manufacturing partnerships under the India EFTA Trade and Economic Partnership Agreement (TEPA). Advancing India EFTA Trade and Investment Ties The visit, the first ministerial engagement of 2026, emphasised Indias commitment to accelerate TEPA implementation and translate it into tangible business and community benefits. Minister Goyal referenced Prime Minister Narendra Modis remarks on Indias constructive role in the global economy, noting that India seeks partnerships that deliver outcomes for businesses, MSMEs, farmers, fishermen, and communities. TEPA: A Platform for High-Quality Economic Relations TEPA, Indias first free trade agreement with the developed EFTA bloc (Iceland, Liechtenstein, Norway, Switzerland), reflects the expanding quality and diversity of Indian exports and the strengthening of Indias manufacturing capabilities through initiatives like Make in India and Make for the World. Minister Goyal said the agreement represents a shift to higher-quality economic collaboration combining scale, competitiveness, and reliability for global markets. Indias Growth Story and Investment Opportunities In meetings with Liechtensteins leadership and business community, the Minister highlighted India as a stable and scalable base for long-term partnerships. With an estimated GDP of USD 4.13 trillion in 2025, India offers a large consumer market, a deepening industrial base, and reforms focused on ease of doing business, digitisation, and infrastructure-led competitiveness. Strengthening Industry and Supply Chain Linkages Minister Goyal encouraged stronger industry-to-industry partnerships, supplier linkages including MSMEs, higher value addition, and India-based production for global operations. He invited Liechtenstein companies to leverage TEPA to expand their presence in India, enhance manufacturing and innovation collaborations, and participate in Indias growing sectoral opportunities. TEPA Investment Ambitions and Market Access TEPA carries an investment ambition of USD 100 billion, supporting the creation of one million direct jobs. The agreement grants EFTA full market access for non-agricultural products and tariff concessions on processed agricultural products, while protecting sensitive sectors. Indias offer covers 82.7 percent of tariff lines, representing 95.3 percent of EFTA exports, with gold imports exempt from duty changes. The Minister concluded by urging closer India Liechtenstein and India EFTA engagement, encouraging EFTA firms to explore India, and translating TEPA into greater investments, technology partnerships, and a larger Indian presence in global trade. (KNN Bureau) 44701 https://knnindia.co.in/news/newsdetails/global/union-commerce-minister-strengthens-indiaefta-partnerships-in-liechtenstein 2026-01-08 14:43:16 knnindia.co.in Union Commerce Minister Strengthens India–EFTA Partnerships In Liechtenstein