India -etta Trade Deal to come into effect from October 1, Piyush Goyal confirms the implementation time line, $ 100 billion investments and 1 million jobs – Times of India

The Trade and Economic Partnership Agreement (TEPA) between India and the European Free Trade Association (EFTA) will be in force from 1 October, the trade and Minister of Industry Piyush Goyal announced on Saturday. The Vrijhandelpact was signed on 10 March of this year after almost 16 years of negotiations.“India-Egta Tepa will come into effect from 1 October,” Goyal posted on X, which confirmed the implementation date of the historical agreement.The EFTA block, consisting of Switzerland, Iceland, Norway and Liechtenstein, has committed to investing $ 100 billion in India-in-in-Es-Kind Promise in any trade agreement signed by India for more than 15 years in India, PTI reported. The investment will be split into two phases: $ 50 billion during the first 10 years and another $ 50 billion in the next five years. The Pact is expected to help create a million direct jobs in India.In exchange, India will open its markets for a wide range of EFTA export. The country has offered concessions at 82.7% of its tariff lines, which cover 95.3% of EFTA exports. In particular, more than 80% of this input is gold. Switzerland is the largest trading partner of India in the block, while trade volumes with Iceland, Norway and Liechtenstein are limited.Indian consumers can expect more affordable high -quality Swiss goods, including watches, chocolates, cookies and clocks, because customs duties on these products are phased out under the agreement for a period of 10 years.The service sector is another important part of the TEPA. India has opened 105 subsectors for the EFTA countries, including segments such as accounting, computer services, distribution, health and business services. In exchange, India has access to 128 subsectors in Switzerland, 114 in Norway, 107 in Liechtenstein and 110 in Iceland.Indian service providers in areas such as legal, audiovisual, R&D, computer services and auditing are expected to benefit from improved market access.The Pact also offers a strategic opportunity for Indian exporters to deepen the integration with markets of the European Union. More than 40% of global exports of Switzerland are aimed at the EU and offer Indian companies a potential springboard in the region through Swiss partnerships.India-Eta bilateral trade was $ 24.4 billion in FY25.