Piyush Goyal Visits Liechtenstein to Boost India–EFTA Trade Ties

Union Minister of Commerce and Industry Shri Piyush Goyal undertook an official visit to Liechtenstein on 7 January 2026, marking the first ministerial visit of the year. The visit underscores India’s commitment to fast-tracking the implementation of the India–EFTA Trade and Economic Partnership Agreement (TEPA).

Focus on Implementing TEPA
The visit aims to translate TEPA into sustained trade, investment and manufacturing partnerships. TEPA is India’s first free trade agreement with a developed group of countries, namely the European Free Trade Association (EFTA) comprising Iceland, Liechtenstein, Norway and Switzerland.

Significance of the Agreement
TEPA reflects:

• Improving quality and competitiveness of Indian products
• An expanded and diversified export basket
• Strengthening of India’s manufacturing base aligned with “Make in India” and “Make for the World”

Market Access Commitments under TEPA

• EFTA’s Offer to India:
  • Market access for 100% of non-agricultural products
  • Tariff concessions on Processed Agricultural Products (PAP)
• India’s Offer to EFTA:
  • Coverage of 82.7% of tariff lines, accounting for 95.3% of EFTA exports to India
  • Over 80% of EFTA imports are gold, with no change in effective duty on gold