Piyush Goyal urges Liechtenstein firms to use $100 bn India-EFTA deal opportunity

New Delhi: Commerce and Industry Minister Piyush Goyal have held a business roundtable with entrepreneurs of Liechtenstein firms asking them to explore opportunities offered by the $100 billion commitment to invest in India by European Free Trade Association (EFTA) nations.

Goyal highlighted that “the India-EFTA Trade and Economic Partnership Agreement (TEPA) is not just a trade agreement, but a framework to promote investment, technology collaboration, skill development, and resilient value chains,” his X post said.

The minister said opportunities span across segments from precision engineering, clean energy, smart infrastructure, advanced materials, digital manufacturing and financial services.

He urged Liechtenstein businesses to consider India as a long‑term base for their ambitions, citing the $100 billion investment commitment by EFTA nations.

Under the agreement, the European bloc has committed an investment of $100 billion over a period of 15 years which would facilitate the creation of one million direct jobs in India.

In another X post he informed on visiting Hilti Group headquarters in Liechtenstein and meeting its CEO, Jahangir Doongaji.

“With the group’s presence in India’s construction sector for over 25 years, discussions focused on advancing localisation, increasing value addition, and scaling global shipments from India, aligned with our manufacturing and export growth objectives,” he said in the post.

The minister also discussed technology collaboration for safer, smarter infrastructure supported by expanding investments, rapid innovation, and strong domestic capacity building.

Goyal had earlier held talks with Deputy Prime Minister and Foreign Minister of Liechtenstein Sabine Monauni on expanding trade, innovation and clean‑tech cooperation. The India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA) officially became operational in October 2025, with the four-nation bloc comprising Switzerland, Norway, Iceland and Liechtenstein.

Goyal two-day trade talks in Brussels aimed at a decisive push toward concluding the India-EU Free Trade Agreement (FTA).

The Indian delegation aimed at zero-duty access for its labour-intensive sectors — such as textiles, leather, apparel, gems and jewellery, and handicrafts, an official statement said.

IANS