Department of Commerce holds Chintan Shivir on seafood opportunities under India-EFTA TEPA in Chennai
The Department of Commerce held a Chintan Shivir on opportunities for the seafood sector under the India-EFTA Trade and Economic Partnership Agreement at the Chennai Trade Centre on 3 July 2026, on the sidelines of Seafood Expo Bharat 2026.
Summary
The Department of Commerce organised a Chintan Shivir on 'Opportunities for the Seafood Sector under the India-EFTA Trade and Economic Partnership Agreement (TEPA)' at the Chennai Trade Centre, Chennai on 3 July 2026, on the sidelines of Seafood Expo Bharat 2026. TEPA is India's first trade agreement with the EFTA states (Iceland, Liechtenstein, Norway and Switzerland) and aims to facilitate USD 100 billion of investment and one million direct jobs. Under it, Iceland has eliminated its 55% duty on feed including fish feed, Norway its 13.16% duty on fish and shrimp feed, and Switzerland has cut its duty on fish fats and oils from 18.05% to zero. Joint Secretary Mohit Yadav led the session.
Key facts
- Date and venue
- 3 July 2026, Chennai Trade Centre (Seafood Expo Bharat 2026)
- EFTA members
- Iceland, Liechtenstein, Norway, Switzerland
- TEPA ambition
- USD 100 billion investment; 1 million direct jobs
- Tariff cuts
- Iceland 55% feed duty to zero; Norway 13.16% to zero; Switzerland fish fats/oils 18.05% to zero
Practice MCQs 3 questions
Which of the following countries is NOT a member of the European Free Trade Association (EFTA), India's partner in TEPA?
Show answer
Correct answer: D — Denmark
EFTA comprises Iceland, Liechtenstein, Norway and Switzerland; Denmark is not a member.
How much investment into India does the India-EFTA TEPA aim to facilitate?
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Correct answer: B — USD 100 billion
TEPA carries an ambition to facilitate USD 100 billion in investments into India and support one million direct jobs.
Under India-EFTA TEPA, which EFTA country eliminated its 55% import duty on feed, including fish feed?
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Correct answer: A — Iceland
Iceland eliminated its 55% duty on feed including fish feed; Norway removed a 13.16% duty and Switzerland cut fish fats and oils from 18.05% to zero.