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Switzerland Finalizes Ratification of Landmark India-EFTA Trade Agreement.

International | Dated: 21 Jul 2025

In July 2025, Switzerland officially ratified the Trade and Economic Partnership Agreement (TEPA) between India and the European Free Trade Association (EFTA), completing the process among all four EFTA nations and paving the way for its implementation.

🎯 Key Highlights:

  • - The ratification by Switzerland marks the final step in bringing the TEPA into full effect, as the other EFTA member countries—Norway, Iceland, and Liechtenstein—had already completed their approvals. With this, the agreement is on track to come into force in October 2025, creating new trade and investment opportunities.
  • - The TEPA represents India’s first-ever free trade agreement with a European trade bloc. Signed on March 10, 2024, in New Delhi after 15 years of negotiations, the agreement covers a wide range of trade, investment, and cooperation areas between India and EFTA nations.
  • - One of the central goals of the agreement is to eliminate trade barriers and promote the flow of goods and services. It also emphasizes enhancing market access, sustainable development, investment facilitation, and technological collaboration between the participating countries.

💡 Other Important Facts:

  • (i) A key economic impact projected under TEPA is an investment commitment of USD 100 billion from EFTA countries to India over the next 15 years.
  • (ii) The agreement consists of 14 chapters addressing vital issues such as intellectual property, rules of origin, dispute resolution, and sanitary and phytosanitary standards.
  • (iii) Switzerland, EFTA’s largest investor in India, has significantly increased its economic footprint. Swiss investment in India grew from CHF 515 million (approx. ₹5,935 crore) in 2000 to CHF 10 billion (approx. ₹1.07 lakh crore) by 2024, with over 330 Swiss companies active in diverse Indian sectors like engineering, pharma, and services.

📚 Test Your Knowledge:

Which country was the last among the EFTA members to complete the ratification of the India-EFTA TEPA agreement in July 2025?

Correct Answer: Switzerland

🚀 Quick Recap:

About Switzerland

  • President: Karin Keller-Sutter
  • Capital: Bern