European Free Trade Association (EFTA) to come into effect from October 1, 2025, negotiating Free Trade Agreements (FTAs) with others: Union Minister of Commerce & Industry, Mr. Piyush Goyal
- IBEF
- September 30, 2025
India’s trade agreement with the European Free Trade Association (EFTA), comprising Iceland, Switzerland, Norway, and Liechtenstein, will come into effect on October 1, 2025, Union Minister of Commerce & Industry, Mr. Piyush Goyal, announced on September 29, 2025. The pact, signed in March 2024, is set to enhance India’s global trade footprint and open new opportunities in goods, services, and investments. He highlighted that India has already signed free trade agreements (FTAs) in the past four years with Mauritius, the United Arab Emirates (UAE), Australia, the United Kingdom (UK), and now the EFTA, reflecting its growing international engagement.
India is also negotiating FTAs with the United States (US), New Zealand, Oman, Peru, Chile, and the European Union (EU), while Bahrain and Qatar have expressed interest in initiating talks. The terms of reference for negotiations with the Russia-led Eurasian Economic Union (EAEU), comprising Russia, Kazakhstan, Belarus, Armenia, and Kyrgyzstan, have been finalised, further underscoring India’s strengthened global standing. He stated that India has transformed from being a fragile economy in 2014 into the world’s fourth-largest economy and is poised to become a US$ 5 trillion economy, or the third-largest globally, within the next two years.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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