Latest News | India Submits Ratification Document of TEPA with EFTA Bloc

New Delhi, Jul 22 (PTI) India on Tuesday submitted the ratification document of the free trade agreement with the four-European nation bloc EFTA to Norway.

The pact, officially dubbed as Trade and Economic Partnership Agreement (TEPA), will be implemented from October 1, Commerce and Industry Minister Piyush Goyal has said on Saturday.

Also Read | ITR E-Filing 2025: From Last Date To Submit Income Tax Return to Steps To File ITR Online and Documents Required, Here's Everything You Need To Know.

"India deposited the Instrument of Ratification of the TEPA between India and EFTA today at the Ministry of Foreign Affairs of Norway, which is the depository entity of TEPA," according to a post by the Indian Embassy in Norway on X.

The two sides signed the agreement on March 10, 2024.

Also Read | National Flag Day 2025: What Do Saffron, White and Green Colours Represent in Tiranga? What Does Blue Ashoka Chakra Mean?.

Under the pact, India has received an investment commitment of USD 100 billion in 15 years from the grouping while allowing several products, such as Swiss watches, chocolates, and cut and polished diamonds, at lower or zero duties.

The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)