Rapid Fire
India-EFTA Desk
- 13 Feb 2025
- 2 min read
India and the European Free Trade Association (EFTA) launched the India-EFTA Desk to strengthen economic ties and facilitate investments under the Trade and Economic Partnership Agreement (TEPA).
India-EFTA Desk
- About: It is a dedicated investment facilitation mechanism established by Invest India to serve as a single-window platform for businesses from the EFTA nations to invest in India.
- Objectives: The India-EFTA Desk aims to facilitate realising the objective of TEPA such as:
- USD 100 billion FDI over 15 years, generating over 1 million direct jobs in India.
- Commitments related to Intellectual Property Rights in TEPA.
- Technology Collaboration aligning with Make in India & Atma Nirbhar Bharat.
- India-EFTA TEPA is a comprehensive FTA signed in March 2024.
European Free Trade Association (EFTA)
- EFTA is an intergovernmental organization of Iceland, Liechtenstein, Norway, and Switzerland, established under the Stockholm Convention (1960).
- India is EFTA’s 5th-largest trading partner (after the EU, US, UK, and China).
- Two-way trade: USD 24 billion (2023-24), up from USD 18.65 billion (2022-23), with a trade gap favoring EFTA.
- Key partners: Switzerland (largest), followed by Norway.
Read More: India-EFTA Trade Deal
