IndiaPosted at: Oct 27 2026 10:45PM


PM Modi, Liechtenstein’s Hereditary Prince Review First Year of India-EFTA Trade Pact

New Delhi, Oct 27 (UNI) Prime Minister Narendra Modi on Tuesday held talks with His Serene Highness Hereditary Prince Alois of Liechtenstein to strengthen bilateral relations, expand investment and deepen economic cooperation, with a focus on the India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA).
Describing the meeting as “excellent”, Modi said the discussions covered a wide range of issues concerning cooperation between the two countries. “Our discussions were wide-ranging and focused on strengthening India-Liechtenstein relations across several sectors,” the Prime Minister said in a post on social media platform X.
He added that the two sides had reviewed progress under the “historic India-EFTA Trade and Economic Partnership Agreement (TEPA)” and discussed opportunities for greater investment and economic cooperation.
The meeting reflects India’s efforts to translate its expanding network of trade agreements into tangible economic gains through increased investment, stronger industrial partnerships and greater business engagement.
Liechtenstein, a small but highly industrialised European principality, has established expertise in precision engineering, specialised manufacturing, financial services and technology-driven industries, offering potential avenues for cooperation with India.
The India-EFTA TEPA, signed in March 2024 and brought into force on October 1, 2025, marked a significant step in India’s economic engagement with Europe.
The four-member EFTA grouping comprises Switzerland, Norway, Iceland and Liechtenstein. The agreement provides a framework for expanding trade and investment, improving market access and encouraging closer economic partnerships between India and the European association.
A key feature of the pact is the EFTA countries’ commitment to promote investments of $100 billion in India over 15 years and facilitate the creation of one million direct jobs, subject to the agreement’s provisions and applicable conditions. The commitment is intended to support India’s manufacturing ambitions, strengthen industrial capacity and encourage the development of employment-generating sectors.
The agreement also offers opportunities for cooperation in technology, pharmaceuticals, machinery, precision manufacturing and other high-value industries. For India, greater engagement with EFTA economies could help attract capital, facilitate access to advanced technologies and strengthen integration with European industrial and commercial networks.
The review of TEPA’s first year provides an opportunity for India and Liechtenstein to assess implementation, identify emerging opportunities and encourage greater participation by businesses on both sides. Investment flows, industrial collaboration and closer business-to-business engagement are among the areas that could give further impetus to bilateral economic ties.
Despite its small geographical size, Liechtenstein occupies a distinctive position in Europe’s economic landscape, with a highly developed industrial base and close economic links with Switzerland. Its specialised manufacturing capabilities and internationally connected economy offer scope for partnerships with Indian companies seeking technological expertise, new markets and investment opportunities.
Modi’s remarks underline the government’s emphasis on ensuring that trade agreements translate into concrete economic outcomes beyond the formal easing of trade barriers.
With the India-EFTA pact entering its second year, the discussions with Hereditary Prince Alois signal a shared interest in building on the existing relationship and exploring opportunities for deeper economic cooperation across sectors. UNI SKA CDS
Tags: #PM Modi# Liechtenstein’s Hereditary Prince Review First Year of India-EFTA Trade Pact
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