**Executive Summary**
Commerce Secretary Shri Rajesh Agarwal visited Switzerland from May 6–07, 2026, to advance the implementation of the India–EFTA Trade and Economic Partnership Agreement (TEPA). The visit focused on converting policy frameworks into commercial delivery, reviewing the progress of the first 200 days of the agreement, and addressing implementation-related issues. Key discussions centered on expanding market access, strengthening regulatory cooperation, and attracting Swiss investment into India’s high-tech manufacturing and services sectors.
**Key Points / Main Content**
**TEPA Implementation and Progress**
* The agreement has been operational for 200 days, resulting in new Indian product lines entering the Swiss market and increased momentum in services trade.
* The visit built upon the February 2026 roadmap established between Union Minister Piyush Goyal and the President of the Swiss Confederation.
* Officials prioritized resolving implementation-related issues early to ensure enterprises can fully utilize the agreement's benefits.
**Market Access and Trade Figures**
* EFTA has granted market access on 92.2% of its tariff lines, which covers 99.6% of India’s current exports.
* The agreement includes tariff concessions on processed agricultural products while safeguarding India’s sensitive sectors, such as dairy.
* India’s exports to Switzerland exceeded USD 1.2 billion in FY 2025–26, and services exports reached USD 6.884 billion in 2024, resulting in a services trade surplus of USD 4.255 billion.
**Sectoral and Regional Opportunities**
* Specific Indian states are expected to benefit in key sectors: Maharashtra (grapes), Karnataka (coffee), Kerala (spices), Andhra Pradesh (seafood), and the North Eastern States (horticulture).
* TEPA aims to integrate "Make in India" products into European value chains, using Switzerland as a gateway market.
* Strategic focus is placed on attracting Swiss investment into pharmaceuticals, biotechnology, precision engineering, clean energy, and advanced manufacturing.
**Bilateral Cooperation and Engagement**
* Both nations are working to address non-tariff barriers and strengthen regulatory cooperation.
* Engagement includes government-to-government, business-to-business, and institutional levels to drive technology partnerships and resilient value chains.
**Impact Analysis**
**Indian Manufacturers and Exporters**
**Impact:** They gain significantly improved market access to the EFTA region, with nearly all exports covered by tariff concessions.
**Action Required:** Enterprises must enhance product quality and competitiveness to enter high-standard European markets and utilize TEPA to convert market access into sustained growth.
**Swiss and EFTA Companies**
**Impact:** They gain a platform for building manufacturing and technology partnerships in India, leveraging India’s digital public infrastructure and skilled talent pool.
**Action Required:** Swiss firms are encouraged to invest in India’s high-tech sectors and participate in major Indian trade and investment events.
**MSMEs, Startups, and Professionals**
**Impact:** The agreement creates expanded opportunities for services mobility and integration into global value chains.
**Action Required:** These entities should leverage the agreement to establish innovation and technology partnerships and expand their services footprint in Europe.
**Indian Farmers and Fishermen**
**Impact:** Regional agricultural products (spices, coffee, seafood) receive better market access, while sensitive domestic sectors like dairy remain protected.
**Action Required:** Producers in targeted states (e.g., Kerala, Karnataka, Andhra Pradesh) should align production with EFTA market standards to maximize export potential.
Key Entities Referenced
India–EFTA Trade and Economic Partnership Agreement (TEPA): The primary trade agreement between India and the EFTA bloc aimed at enhancing market access, promoting investment, and integrating Indian products into European value chains.
European Free Trade Association (EFTA): The economic bloc comprising Switzerland, Iceland, Norway, and Liechtenstein that serves as India’s first European trade partner under an operational agreement.
Swiss State Secretariat for Economic Affairs (SECO): The Swiss government’s center of expertise for economic policy, responsible for bilateral regulatory cooperation and implementation of the trade agreement.
Switzerland: The central location of the implementation review and a key gateway market for Indian exports to the wider European region.
Make in India: A government initiative whose manufactured products the TEPA aims to integrate into European supply chains and global markets.
Ministry of Commerce & Industry
Commerce Secretary Shri Rajesh Agarwal Visits
Switzerland to Advance India–EFTA TEPA
Implementation and Boost Trade & Investment
Cooperation
India and Switzerland Review TEPA Implementation, Discuss
Measures to Expand Trade and Investment Cooperation
Shri Piyush Goyal Highlights India’s Expanding Global Trade
Partnership
TEPA Grants Market Access on 92.2% of EFTA Tariff Lines
Covering 99.6% of India’s Exports; India’s Exports to
Switzerland Cross USD 1.2 Billion
Commerce Secretary Calls for Sustained India–EFTA
Engagement to Drive Exports, Investments and Technology
Partnerships Under TEPA
Posted On: 08 MAY 2026 9:49PM by PIB Delhi
Commerce Secretary Shri Rajesh Agarwal undertook an official visit to Switzerland from 06–07 May
2026 to advance the implementation of the India–EFTA Trade and Economic Partnership Agreement
(TEPA) and strengthen India–Switzerland trade and investment engagement.
The visit focused on translating TEPA’s market-access outcomes into concrete business partnerships,
investment commitments and greater industry utilization. The visit built upon the high-level engagement
held in February 2026, when Union Minister of Commerce and Industry Shri Piyush Goyal met H.E. Mr.
Guy Parmelin, President of the Swiss Confederation, in New Delhi and reviewed the roadmap for taking
the agreement from policy framework to commercial delivery.
During the visit, the Commerce Secretary held a bilateral meeting with Ms. Helene Budliger Artieda, State
Secretary, Swiss State Secretariat for Economic Affairs (SECO). Both sides reviewed the progress
achieved since TEPA became operational and discussed measures to expand trade and investment,
strengthen regulatory cooperation, address non-tariff barriers and promote deeper business linkages. The
Commerce Secretary emphasized the importance of resolving implementation-related issues at an early
stage to enable enterprises on both sides to fully utilize the Agreement.The Commerce Secretary also participated in the 55th St. Gallen Symposium on 06 May 2026. As part of
the programme, he joined the session titled “Networking Dinner @ SQUARE: 200 Days of TEPA –
Lessons from the Swiss–Indian Trade Agreement” along with State Secretary Ms. Helene Budliger
Artieda.
Union Minister of Commerce and Industry Shri Piyush Goyal delivered the keynote address at the
Symposium through a video message. The Minister stated that under the leadership of Prime Minister Shri
Narendra Modi, India has concluded nine Free Trade Agreements with 38 developed countries, creating
expanded opportunities for Indian manufacturers, services firms, farmers, fishermen, workers, women,
youth, startups, MSMEs and professionals.
Shri Goyal underlined that India’s FTAs are aimed at enhancing quality, competitiveness, supply-chain
integration, services mobility, investment flows and market access. He emphasized that these agreements
are intended to help Indian enterprises confidently enter high-standard global markets and convert market
access into sustained export growth.
Highlighting the progress achieved within 200 days of TEPA’s implementation, the Minister noted that
new Indian product lines have entered the Swiss market, services trade has gained momentum and
investment interest has strengthened. He further observed that India’s large consumer market, ongoing
reforms, digital public infrastructure, skilled talent pool and expanding industrial capabilities provide a
strong foundation for long-term partnerships with Switzerland and the wider EFTA region.
TEPA marks a significant milestone in India’s trade engagement strategy. It is India’s first trade agreement
with the EFTA economies and the country’s first operational trade arrangement with a European economic
bloc. The Agreement is expected to support deeper integration of Make in India products into European
value chains, with Switzerland serving as an important gateway market. It also expands opportunities for
farmers and fishermen, forest-based communities, workers, women and youth, as well as MSMEs and
professionals.
Under TEPA, EFTA has offered improved market access on 92.2 per cent of its tariff lines, covering 99.6
per cent of India’s exports, along with tariff concessions on processed agricultural products. The
Agreement is expected to create opportunities for Indian states across sectors, including Maharashtra in
grapes, Karnataka in coffee, Kerala in spices, Andhra Pradesh in seafood and the North Eastern States in
horticulture. India has also safeguarded sensitive sectors, including dairy and other sensitive products, to
protect farmers’ interests.
India–Switzerland economic engagement continues to expand on a strong foundation. India’s exports to
Switzerland exceeded USD 1.2 billion during FY 2025–26. India’s services exports to Switzerland stood
at USD 6.884 billion in 2024, generating a services trade surplus of USD 4.255 billion.
During a fireside chat with State Secretary Ms. Helene Budliger Artieda, the Commerce Secretary
highlighted India’s evolving economic landscape, driven by sustained reforms, expanding digital public
infrastructure and a rapidly growing manufacturing base. He emphasized that India’s approach to trade
agreements is aligned with strengthening competitiveness, integrating industry into global value chains
and creating opportunities for enterprises across sectors, including MSMEs, startups and services
providers.
The Commerce Secretary also addressed a high-level Business Roundtable on 07 May 2026, which
brought together senior representatives from leading Swiss companies and institutions across advanced
manufacturing, engineering, technology and financial services sectors. Discussions focused on
opportunities to advance investment and economic cooperation under TEPA.The visit placed particular emphasis on attracting Swiss investment into sectors such as pharmaceuticals,
biotechnology, precision engineering, machinery, machine tools, clean energy, plastics, medtech and
advanced manufacturing. The Commerce Secretary invited Swiss and EFTA companies to leverage TEPA
as a platform for building manufacturing, innovation and technology partnerships in India.
The visit concluded with a call for sustained government-to-government, business-to-business and
institutional engagement. The Commerce Secretary encouraged greater participation of Swiss and EFTA
companies in major trade and investment events in India and emphasized that the success of TEPA would
ultimately be measured through increased exports, investments, job creation, technology partnerships and
resilient value chains.
***
Abhishek Dayal/ Garima Singh/ Ishita Biswas
(Release ID: 2259227) Visitor Counter : 139