Commerce and Industry Minister Piyush Goyal met with Liechtenstein’s Deputy Prime Minister and Foreign Affairs Minister, Sabine Monauni, to enhance economic relations between the two countries. Goyal highlighted the potential for trade expansion, innovation, and clean technology, especially following the activation of the India-EFTA TEPA. The partnership aims to leverage India’s talent and demand alongside Liechtenstein’s manufacturing expertise to boost trade, investment, and technology exchange.
The India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA) is set to commence on October 1, involving Switzerland, Norway, Iceland, and Liechtenstein. The agreement includes a commitment of $100 billion investment over 15 years, expected to generate a million direct jobs in India. Minister Goyal is currently on an official visit to Europe, focusing on trade discussions in Brussels to advance the India-EU Free Trade Agreement (FTA).
During the visit, Goyal will engage in talks with the European Union’s Commissioner for Trade and Economic Security, Maros Sefcovic, to guide negotiations, address pending issues, and expedite a comprehensive agreement. Both sides are committed to a rules-based trading framework that benefits farmers, MSMEs, and integrates Indian industries into global supply chains. The EU is India’s largest trading partner and a significant investor, with bilateral trade expected to strengthen further in the coming years.
