India-EFTA TEPA

India's Trade and Economic Partnership Agreement (TEPA) with the European Free Trade Association -- the four-nation bloc of Switzerland, Norway, Iceland and Liechtenstein -- took effect on 1 October 2025, about nineteen months after it was inked in New Delhi. It is India's first trade deal with a group of wealthy European economies, and its signature feature stands out: alongside the usual tariff cuts, the four states have pledged to channel USD 100 billion of direct investment into India across fifteen years and help create a million jobs. That promise, written into the treaty itself, has no precedent in any earlier Indian FTA.