India to Export Goods to Switzerland, Norway and Two Other Countries at Zero Duty

 

India’s Commerce and Industry Minister, Piyush Goyal, announced on Monday that starting September, Indian products will be exported duty-free to four countries—Switzerland, Norway, Iceland, and Liechtenstein—under the European Free Trade Association (EFTA) agreement.

 

This development is expected to significantly boost Indian exports of pharmaceuticals, engineering products, and technology solutions. The agreement, which was signed in March, is anticipated to deliver substantial benefits to Indian manufacturers and exporters.

 

Goyal emphasized that the pact is particularly important because it not only facilitates market access but also encourages investments from EFTA countries into India. He cited examples of Swiss companies keen to invest in India’s manufacturing and technology sectors.

 

Growing Focus on Rare Earth Alternatives

Speaking on the sidelines of the event, the Minister also highlighted the importance of developing alternatives to rare earth elements, which are critical in manufacturing high-tech products. He noted that India needs to seriously consider creating robust supply chains that are less dependent on traditional rare earth sources, many of which are controlled by a few countries.

 

Bata to Start Designing Operations in Gurugram

In a related development, Swiss company Bata’s CEO Sandeep Kataria confirmed plans to begin design operations at Bata House in Gurugram soon. Kataria shared that the new design center will serve as a creative hub to develop footwear collections and other products not just for the Indian market, but for export to several countries.

 

Kataria explained that while designing a new product in Switzerland typically costs 10 times more, India’s cost-effective talent and infrastructure make it an ideal location for global design activities. He added that the new facility would create more employment opportunities for Indian youth trained in footwear design and technology.

 

Positive Outlook for Trade and Investment

Minister Goyal further stated that with this free trade agreement, Indian products will gain a competitive edge in European markets, paving the way for stronger economic partnerships. Swiss companies are also expected to explore opportunities to set up manufacturing units in India, thereby enhancing technology transfer and local employment.

 

He expressed confidence that the agreement would open new avenues for growth and help India become an even more attractive destination for global investors.