What benefits does TEPA offer Indian agri exporters?

TEPA allows Indian agri-exporters to send products like rice, fish, and processed vegetables to Iceland duty-free, eliminating previous tariffs ranging from 10% to 220%.

Are there any new investments between Iceland and India?

Yes, an Icelandic firm is investing $30 million in an Indian company in the fishery sector, expected to create 800-1000 jobs in Maharashtra.

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India-Iceland Pact Opens Duty-Free Agri Exports

Q: What is the India-EFTA Trade and Economic Partnership Agreement (TEPA)?

TEPA is a free trade agreement between India and the EFTA bloc (Iceland, Liechtenstein, Norway, Switzerland) that was implemented on October 1, 2025.

7 Mar

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Summary

India-EFTA free trade agreement active since October 2025.
Icelandic firm invests $30 million in Indian fishery sector.
Duty-free access for Indian agri-products in Iceland is now available.

India-Iceland Pact Opens Duty-Free Agri Exports

The India-EFTA Trade and Economic Partnership Agreement (TEPA), enacted on October 1, 2025, is fostering new trade avenues. Iceland is showing keen interest in expanding collaborations with Indian companies in sectors such as fisheries, clean energy, and innovation.

An Icelandic company has committed a $30 million investment in the Indian fishery sector, specifically in Maharashtra, which is expected to create approximately 800 to 1000 jobs in Aurangabad. India's Ambassador to Iceland highlighted potential for Indian exporters in textiles, coffee, and pharmaceuticals.