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India's Motor Car Exports Surge in EFTA Market Post-Trade Pact: Goyal
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News18•01-10-2026, 18:45
India's Motor Car Exports Surge in EFTA Market Post-Trade Pact: Goyal
- •India's exports of motor cars, heavy waters, and moulding patterns show significant growth in the EFTA bloc.
- •The healthy growth follows the implementation of the Trade and Economic Partnership Agreement (TEPA) between India and EFTA on October 1 last year.
- •EFTA members include Iceland, Liechtenstein, Norway, and Switzerland.
- •Commerce and Industry Minister Piyush Goyal highlighted the positive outcome, stating it's "just the beginning."
- •TEPA aims to attract USD 100 billion in investments to India over 15 years, creating 1 million direct jobs and boosting manufacturing and services sectors.
Key Questions Answered
The Trade and Economic Partnership Agreement (TEPA) is a trade and economic pact between India and the four-nation EFTA bloc comprising Iceland, Liechtenstein, Norway, and Switzerland, which was implemented on October 1 last year. It provides market access on 92.2 percent of tariff lines covering 99.6 percent of India's exports.
Following the implementation of the trade pact, India's exports of goods such as motor cars and other motor vehicles, heavy waters, and moulding patterns have registered healthy and significant growth.
EFTA nations have committed to promoting USD 100 billion in investments in India over the next 15 years, which is expected to help create 1 million direct jobs and support the manufacturing and services sectors.
