On October 1, the landmark India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA) will officially come into effect, marking a historic milestone in India’s trade diplomacy. Signed on March 10, 2024, in New Delhi, the agreement is being hailed as India’s most ambitious free trade deal to date – one that not only opens markets but also commits to long-term investments and job creation.

For the first time in any free trade agreement signed by India, TEPA incorporates a binding investment and employment commitment. Under Article 7.1, EFTA states – Switzerland, Norway, Iceland, and Liechtenstein – will aim to bring in $100 billion in foreign direct investment into India over the next 15 years, creating 1 million direct jobs. Significantly, this investment

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