 "Union Commerce Minister Piyush Goyal (centre) and members of the European Free Trade Association address the media after signing the deal in New Delhi on Sunday| Photo: X/@PiyushGoyal")
On March 10, 2024, 16 years, and 21 formal rounds of negotiations later, India and the European Free Trade Association (EFTA) member states signed the India-EFTA Trade and Economic Partnership Agreement (TEPA). The deal, which marks a significant incremental step in the long-standing relationship between India and the EFTA states (which include Switzerland, Iceland, Norway and Liechtenstein), is also a major step forward for India in its approach to bilateral trade agreements.
The chapter on investment promotion and cooperation (Investment Chapter) in the TEPA is a first-of-its-kind, wherein a partner country has undertaken a unilateral commitment towards promoting foreign direct
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