“TEPA is a strategic agreement, not a short-term trade boost,” she said, adding that it gives companies predictability and confidence to commit capital for the long run. The TEPA came into force October 1. EFTA members are Iceland, Liechtenstein, Norway, and Switzerland.
From the Swiss side, priority sectors in India include biotechnology, life sciences, precision engineering, clean technology, advanced manufacturing, mobility, and infrastructure which have a large export potential.
Fiedler noted that since the TEPA was signed, the number of Swiss companies seeking structured market-entry support has more than doubled, reflecting heightened interest in India.
She noted that India is being viewed as an additional manufacturing and sourcing hub, rather than a replacement for existing bases in view of realignment of global supply chains.