TEPA: India–EFTA Trade Pact Comes Into Force
Why in the news
India’s first FTA with four developed European countries began operating. It was signed in New Delhi on 10 March 2024.
Key facts
- Members of EFTA: Switzerland (largest EFTA trade partner), Norway, Iceland, Liechtenstein.
- Aim: connects trade with investment and job creation.
| Area | Highlights |
|---|---|
| Services | 100+ sub-sectors; MRAs for nursing, architecture, chartered accountancy; Modes 1, 3, 4 |
| IPR | TRIPS+ standard, generic-medicine safeguards, no patent evergreening |
| Sustainability | Green growth; technology cooperation in renewables, precision engineering, health sciences |
Exam angle
- Signed 10 March 2024; operational 1 October 2025.
- Four EFTA members; Swiss link is the biggest.