India-EFTA TEPA Review to Focus on Market Access and New Trade Opportunities
Second Prosperity Summit in New Delhi to examine implementation bottlenecks, tariff concessions and expansion of trade and investment
India and the European Free Trade Association (EFTA) countries—Switzerland, Norway, Iceland and Liechtenstein—are set to review the implementation of their Trade and Economic Partnership Agreement (TEPA) at the second India-EFTA Prosperity Summit in New Delhi in October. The review comes a year after the agreement took effect and amid a decline in India’s goods exports to the four-nation bloc.
India’s goods exports to EFTA fell 10.77 per cent to $1.75 billion in FY26. The decline continued after TEPA came into force on October 1, 2025, with exports falling 22.72 per cent to $461.64 million in April-June, the first quarter of FY27. Exports to Switzerland, the largest market within the bloc, recorded a sharper decline.
Trade Trends Under Review
While India’s exports to EFTA have declined, imports from the bloc increased 10.99 per cent to $24.9 billion in FY26. However, imports fell 13.09 per cent to $2.93 billion during April-June 2026, mainly due to a decline in gold shipments.
The upcoming summit is expected to bring together political leaders, senior officials and businesses to examine the implementation of TEPA and identify areas where trade and investment can be expanded.
“The participants at the summit, which would include political leaders, senior officials and businesses, are expected to discuss implementation-related issues, including market access and procedural bottlenecks, and ways to expand trade and investment further,” a source tracking the matter said.
Focus on Investment and Sectoral Opportunities
The summit is also expected to examine progress towards EFTA’s commitment to promote $100 billion in investment in India. Announcements related to collaboration across various sectors may also be made during the meeting, according to the source.
Under EFTA’s tariff offer, 92.2 per cent of tariff lines are covered, accounting for 99.6 per cent of India’s exports. The agreement provides market access opportunities for Indian exporters across sectors including engineering goods, chemicals, textiles and apparel, processed foods, agricultural products and marine products.
Exporters Asked to Report TEPA Challenges
The Commerce Department has sought detailed feedback from exporters regarding their experience with TEPA since its implementation.
Exporters have been asked to identify product-specific market access difficulties, tariff and non-tariff barriers, regulatory requirements, customs delays, documentation and certification requirements, rules-of-origin issues and other challenges affecting their ability to use the agreement’s benefits.
“To fully utilise the tariff concessions, Indian exporters need to navigate regulatory requirements, including certification procedures and rules-of-origin requirements,” the source said.
The feedback is expected to help identify implementation-related issues that may be addressed during the review of the agreement.
Early Resolution of Implementation Issues
During his visit to Switzerland in May, Commerce Secretary Rajesh Agrawal stressed the importance of resolving implementation issues at an early stage so that businesses in India and EFTA countries could make full use of the agreement.
The second India-EFTA Prosperity Summit in New Delhi will therefore provide a platform to review the first year of TEPA implementation, discuss market access and procedural challenges, and explore further opportunities for trade and investment between India and the EFTA bloc.