In a momentous announcement, Union Commerce and Industry Minister Piyush Goyal confirmed on Wednesday, October 1, 2025, that the highly anticipated free trade agreement between India and the European Free Trade Association (EFTA) has officially come into force. This significant pact, known as the Trade and Economic Partnership Agreement (TEPA), marks a new chapter in economic cooperation.
Minister Goyal emphasized the far-reaching positive impacts of the agreement, stating that it is poised to unlock a wealth of new opportunities across various sectors. These include boosting international trade, attracting substantial investment, and critically, fostering significant job creation. He highlighted that these benefits are expected to uplift both the general populace and businesses within all signatory nations.
Echoing this sentiment, Guy Parmelin, Head of the Swiss Federal Department of Economic Affairs, Education and Research, underscored the importance of this milestone. He affirmed that the entry into force of TEPA between EFTA and India represents a crucial step towards deeper economic ties and mutual prosperity.