Greer: Have standing call with India's trade minister

Greer: Have standing call with India's trade minister

In a significant step towards strengthening economic ties, Commerce Minister Piyush Goyal met with Norwegian Foreign Minister Espen Barth Eide to discuss the implementation of the India-EFTA Trade and Economic Partnership Agreement (TEPA). The meeting, held on March 10, 2024, aimed to bolster trade and investment between India and the European Free Trade Association (EFTA) nations.

EFTA, comprising Switzerland, Iceland, Norway, and Liechtenstein, is committed to promoting USD 100 billion in Foreign Direct Investment (FDI) in India over the next 15 years, with the potential to create 1 million jobs. This commitment underscores the strategic importance of the TEPA for both parties, as it seeks to enhance bilateral economic cooperation [1].

The TEPA was signed in March 2024, following extensive negotiations. The agreement is designed to facilitate smoother trade flows, reduce tariffs, and encourage investments. Among EFTA countries, Switzerland is India's largest trading partner, followed by Norway, highlighting the potential for significant economic gains from the partnership [1].

The meeting with Norwegian Foreign Minister Eide comes amidst a flurry of international trade activities for India. Earlier, Commerce Minister Piyush Goyal met with UK officials, including Chancellor of the Exchequer Rachel Reeves and Secretary of State for Business and Trade Jonathan Reynolds, to deepen India-UK economic cooperation. Negotiations towards a trade deal between India and the United Kingdom have resumed, signaling a renewed focus on strengthening longstanding partnerships [1].

The latest developments in India's trade policies also coincide with the U.S. Trade Representative's (USTR) annual report, which placed Mexico on its priority watch list over intellectual property rights. This move underscores the importance of intellectual property protection in international trade negotiations [2].

In a separate but related development, India has issued a strict 'Leave India' notice to Pakistani nationals following the recent Pahalgam terror attack. Pakistani nationals with SAARC visas must leave by April 26, while those with medical visas have until April 29. Overstaying can result in imprisonment and fines, reflecting the government's stringent stance on national security [3].

These developments highlight India's proactive approach to enhancing its trade relationships while maintaining stringent security measures. The coming months are likely to see further progress in implementing the TEPA and other trade agreements, reflecting a broader strategy to bolster India's economic standing on the global stage.

References:
[1] https://economictimes.indiatimes.com/news/economy/foreign-trade/piyush-goyal-meets-norways-foreign-minister-eide-discusses-india-efta-trade-pact-implementation/articleshow/120760909.cms
[2] https://www.tradingview.com/news/reuters.com,2025:newsml_L1N3R701D:0-us-trade-agency-adds-mexico-to-priority-watch-list-over-intellectual-property/
[3] https://economictimes.indiatimes.com/news/india/pahalgam-attack-pakistanis-failing-to-leave-india-by-deadline-will-face-3-year-jail-term-or-rs-3-lakh-fine/articleshow/120669887.cms