Commerce Secretary visits Switzerland to advance India–EFTA TEPA implementation
On 6–7 May 2026 Commerce Secretary Rajesh Agarwal visited Switzerland to review implementation of the India–EFTA Trade and Economic Partnership Agreement (TEPA), India's first trade agreement with the EFTA economies, as India's exports to Switzerland crossed USD 1.2 billion in FY 2025–26.
Summary
Commerce Secretary Rajesh Agarwal visited Switzerland on 6–7 May 2026 to advance implementation of the India–EFTA Trade and Economic Partnership Agreement (TEPA), reviewing progress about 200 days into its implementation with Swiss officials and addressing a business roundtable on 7 May; he also took part in the 55th St. Gallen Symposium on 6 May. TEPA is India's first trade agreement with the European Free Trade Association (EFTA) economies and its first operational trade arrangement with a European economic bloc. Under TEPA, EFTA has offered improved market access on 92.2% of its tariff lines, covering 99.6% of India's exports. India's exports to Switzerland exceeded USD 1.2 billion in FY 2025–26, and its services exports to Switzerland were USD 6.884 billion in 2024.
Key facts
- Visit
- Commerce Secretary Rajesh Agarwal, Switzerland, 6–7 May 2026
- TEPA
- India's first trade agreement with EFTA; first operational pact with a European bloc
- Market access
- EFTA: 92.2% of tariff lines, covering 99.6% of India's exports
- Trade
- Exports to Switzerland > USD 1.2 bn in FY 2025–26; services exports USD 6.884 bn (2024)
- Also
- 55th St. Gallen Symposium, 6 May 2026
Practice MCQs 3 questions
The Trade and Economic Partnership Agreement (TEPA), reviewed by the Commerce Secretary in Switzerland in May 2026, is India's trade agreement with which grouping?
Show answer
Correct answer: C — European Free Trade Association (EFTA)
TEPA is India's first trade agreement with the European Free Trade Association (EFTA) economies.
Under the India–EFTA TEPA, EFTA has offered improved market access on what share of its tariff lines, and what share of India's exports does this cover?
Show answer
Correct answer: A — 92.2% of tariff lines, covering 99.6% of India's exports
EFTA offered improved market access on 92.2% of its tariff lines, covering 99.6% of India's exports.
India's merchandise exports to Switzerland in FY 2025–26 exceeded which figure, as stated during the Commerce Secretary's visit in May 2026?
Show answer
Correct answer: D — USD 1.2 billion
India's exports to Switzerland exceeded USD 1.2 billion in FY 2025–26; USD 6.884 billion was services exports in 2024.