India- EFTA Free Trade Agreement: Template for Trade Negotiations with Europe

India and the four European Free Trade Association (EFTA) countries, Switzerland, Norway, Iceland and Liechtenstein, concluded a Trade and Partnership Agreement (TEPA) on 10 March 2024.Footnote1 The Union Cabinet chaired by the Prime Minister who hailed it as a landmark pact, had approved it. This is the first time that India has signed an FTA with developed countries from the West. The combined GDP of the EFTA countries is over $1 trillion. They are also among the world’s top ten merchandise traders and top five in commercial services. After the successful conclusion of the TEPA, India will become the EFTA’s fifth-largest trading partner after the European Union (EU), the US, United Kingdom (UK) and China.