Pariksha SaathiPiyush Goyal meets Hereditary Prince Alois of Liechtenstein during the Prince's State Visit to India; talks focus on investment under the India-EFTA TEPA
Union Minister of Commerce and Industry Piyush Goyal paid a courtesy call on H.S.H. Hereditary Prince Alois of Liechtenstein on 28 October 2026 during the Prince's State Visit to India, the Ministry of Commerce and Industry said; the meeting focused on strengthening economic engagement and advancing investment opportunities under the India-EFTA Trade and Economic Partnership Agreement (TEPA). Goyal highlighted India's strong economic fundamentals, sustained reform agenda and expanding manufacturing capabilities, and the Government's efforts to improve the ease of doing business. The release notes that cumulative Foreign Direct Investment (FDI) inflows stood at USD 843 billion during FY 2014-15 to FY 2025-26, with inflows reaching a record USD 94.53 billion in FY 2025-26, and that India has 2.50 lakh startups supporting over 25.42 lakh jobs across more than 770 districts and 56 industries, 52% of them based in non-metropolitan cities. Goyal highlighted the opportunities offered by the India-EFTA TEPA, which entered into force on 1 October 2025; the Agreement provides for EFTA States to aim to increase FDI into India by USD 100 billion over 15 years and to facilitate the generation of one million direct jobs. He invited companies from Liechtenstein to explore opportunities in India, including through manufacturing partnerships, technology collaboration, research and development, and deeper integration with Indian suppliers and micro, small and medium enterprises, and the discussions explored expanding industrial cooperation in areas such as precision engineering, advanced manufacturing, industrial technologies and innovation. The release recalls that on 7 October 2026 the India-EFTA Prosperity Summit was held in New Delhi to mark the first anniversary of the India-EFTA TEPA, with the participation of Hubert Büchel, Liechtenstein's Minister of Home Affairs, Economy and Sport, along with representatives of Liechtenstein businesses.
Drafted with AI assistance from the official PIB release linked above and checked against it by a second AI pass. Not line-edited by a human.
Learning context
India and the European Free Trade Association (EFTA) signed the Trade and Economic Partnership Agreement (TEPA) on 10 March 2024, after the Union Cabinet approved its signing. EFTA is an inter-governmental organisation set up in 1960 for the promotion of free trade and economic integration for the benefit of its four Member States - Switzerland, Iceland, Norway and Liechtenstein; among EFTA countries, Switzerland is India's largest trading partner, followed by Norway. Commerce and Industry Minister Piyush Goyal said then that, for the first time, India was signing an FTA with four developed nations. The agreement comprises 14 chapters. EFTA offered 92.2% of its tariff lines, covering 99.6% of India's exports, while India offered 82.7% of its tariff lines, covering 95.3% of EFTA exports, of which more than 80% of imports is gold, with the effective duty on gold left untouched; sectors such as dairy, soya, coal and sensitive agricultural products were kept in the exclusion list. In services, India offered 105 sub-sectors to EFTA and secured commitments in 128 sub-sectors from Switzerland, 114 from Norway, 107 from Liechtenstein and 110 from Iceland. The investment commitment does not cover foreign portfolio investment.
Check yourself: when was the India-EFTA TEPA signed, which four countries make up EFTA, and in how many services sub-sectors did India secure commitments from Liechtenstein?
On 10 March 2024; Switzerland, Iceland, Norway and Liechtenstein; 107 sub-sectors.
Revision task: from this release, note whom Piyush Goyal met and when, when the India-EFTA TEPA entered into force, the FDI and jobs goals of EFTA States under it, the FDI and startup figures quoted, and the India-EFTA Prosperity Summit; from the note, when TEPA was signed, EFTA's members and founding year, the number of chapters, the tariff-line offers on both sides and the services sub-sectors secured from Liechtenstein.
Test yourself
Under the India-EFTA Trade and Economic Partnership Agreement (TEPA), which entered into force on 1 October 2025, EFTA States aim to increase FDI into India by how much over 15 years?
Show the answer
Answer: USD 100 billion
The India-EFTA TEPA entered into force on 1 October 2025, and the Agreement provides for EFTA States to aim to increase FDI into India by USD 100 billion over 15 years and to facilitate the generation of one million direct jobs. Commerce and Industry Minister Piyush Goyal highlighted these opportunities when he called on H.S.H. Hereditary Prince Alois of Liechtenstein on 28 October 2026, during the Prince's State Visit to India.
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