Fashion
India, Switzerland review TEPA implementation & boost investment ties
Highlighting India’s growth trajectory, Goyal noted that under Prime Minister Narendra Modi’s leadership, India is now the world’s fourth-largest economy, with an estimated GDP of $4.51 trillion in 2026. He underscored India’s scale, sustained reform momentum, a large and expanding consumer market, a deepening industrial base, and continued focus on ease of doing business, digitisation, and infrastructure-led competitiveness, which together provide a stable and scalable platform for long-term partnerships. The minister encouraged greater Swiss investment in India, particularly in sectors where Switzerland has established niche technological strengths. He also underlined India’s role as a reliable global supplier of affordable, high-quality medicines and vaccines, and called for deeper cooperation in R&D, biotechnology, specialty pharmaceuticals, and advanced therapeutics.
The meeting reaffirmed India and Switzerland’s commitment to expand economic and strategic cooperation under the India–EFTA Trade and Economic Partnership Agreement (TEPA). In the context of the AI Impact Summit, both sides noted the need to balance innovation with responsibility, and recognised TEPA as an enabling framework for technology and innovation collaboration, including precision engineering, health sciences, renewable energy, and R&D, the Ministry of Commerce and Industry said in a press release.
TEPA is India’s first trade agreement with the EFTA economies (Iceland, Liechtenstein, Norway, and Switzerland), which are characterised by high-income markets, exacting standards, and strong demand for quality products and services. It is also India’s first operational trade arrangement with a European economic bloc, complementing our engagements with the European Union and the United Kingdom. The agreement is expected to support deeper integration of ‘Make in India’ products into European value chains, with Switzerland as an important gateway market, while expanding opportunities across farmers and fishermen, forest-based communities, workers, women and youth, as well as MSMEs and professionals.
Under TEPA, EFTA has offered improved market access on 92.2 per cent of its tariff lines, covering 99.6 per cent of India’s exports, along with tariff concessions on processed agricultural products. The agreement is expected to create opportunities across Indian states.
Both sides reaffirmed their commitment to strengthening regulatory cooperation and institutional engagement to realise TEPA’s full potential. Goyal highlighted the dedicated EFTA Desk at Invest India as a facilitation mechanism for Swiss companies seeking to expand their presence in India.
Fibre2Fashion News Desk (RR)
Woven garment exports witnessed limited decline compared to knitted garment exports. Knitwear exports (Chapter **) declined by *.** per cent to $**.*** billion, compared with $**.*** billion in the same period of fiscal ****–**. Woven apparel exports (Chapter **) eased *.** per cent to $**.*** billion, down from $**.*** billion during July-March ****, EPB data showed.
Home textile exports (Chapter **, excluding ******) showed a marginal decline, decreasing by *.** per cent to $***.** million from $***.** million in the same period of the previous fiscal. Taken together, exports of woven and knitted apparel, clothing accessories, and home textiles accounted for **.** per cent of Bangladesh’s total exports, which stood at $**.*** billion during this period.
The delegation comprises of major India Textile machinery companies spanning Spinning, Weaving, Processing, Dyestuff & Chemicals, Digital Printing, Technical Textiles, Sportstech, Association & Chamber interested in Joint Venture, Exporting, Sourcing, New Product Technology & Networking sectors.
An Indian textile and engineering delegation visiting Indonesia signals a strategic effort to deepen bilateral collaboration.
Bringing together expertise across machinery, chemicals, and technical textiles, the initiative aims to foster joint ventures, sourcing partnerships, and technology exchange, unlocking long-term growth opportunities and strengthening Asia’s integrated textile value chain.
The Indian Textile & Textile Engineering Business Delegation will be available for interaction & meeting on Monday April 13, from 2.30 pm to 3.30 pm at Orchid 1, Four Points by Sheraton, Bandung.
It is a complimentary meeting & interested Textile Industry member from all streams & Countries can register via Google form.
Indonesia’s strong textile manufacturing base and export capabilities complement India’s engineering and technology power, strategically has the potential & unlimited opportunities to strengthen the bilateral trade between India & Indonesia.
Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (MS)
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