When was the India European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA) signed, which came into effect on 1 October 2025?

The correct answer is March 2024.

Explanation & Context:

The Trade and Economic Partnership Agreement (TEPA) between India and the European Free Trade Association (EFTA) – comprising Iceland, Liechtenstein, Norway, and Switzerland – was officially signed on March 10, 2024 in New Delhi.

Key highlights of the India-EFTA TEPA include:

• A landmark commitment of $100 billion in foreign direct investment (FDI) into India over a 15-year period.
• The target creation of nearly 1 million direct jobs in India.
• Elimination or reduction of tariffs on a vast majority of industrial, agricultural, and manufactured goods traded between India and the EFTA nations.

The agreement enters into force after ratification by the participating countries, coming into full operational effect on 1 October 2025.