India Strengthens Ties with Liechtenstein in Trade Partnership
Union Minister of Commerce and Industry, Shri Piyush Goyal, made a significant official visit to Liechtenstein on January 7, 2026. This visit included a courtesy meeting with H.S.H. Hereditary Prince Alois von und zu Liechtenstein at the historic Vaduz Castle, discussions with Prime Minister H.E. Ms. Brigitte Haas, and a meeting with Deputy Prime Minister H.E. Ms. Sabine Monauni, who also oversees Foreign Affairs, Environment, and Culture. The Minister also participated in an interview with ORF and attended a luncheon hosted by the Deputy Prime Minister. Additionally, he visited Hilti AG to engage with its leadership team.
Advancing the India-EFTA Trade and Economic Partnership
This inaugural ministerial trip of 2026 illustrates India’s dedication to expediting the India–EFTA Trade and Economic Partnership Agreement (TEPA). Goyal underscored the initiative’s aim to foster enduring trade, investment, and manufacturing collaborations. He echoed Prime Minister Narendra Modi’s viewpoint, stating, “The world is seeing India with a ray of hope amidst uncertainty,” reflecting India’s proactive role in the global economy.
TEPA marks India’s first free trade agreement with the developed EFTA countries, which include Iceland, Liechtenstein, Norway, and Switzerland. The agreement signifies not only an improvement in the quality of Indian products but also a diverse expansion in Indian exports and a robust enhancement in manufacturing capabilities that align with the “Make in India” and “Make for the World” initiatives.
Highlighting India’s Economic Growth
During discussions with Liechtenstein officials and business leaders, the Minister presented India’s narrative as a stable and scalable foundation for long-term partnerships. With an estimated GDP of USD 4.13 trillion as of 2025, India stands as the world’s fourth largest economy. The nation boasts a vast consumer market, a deepening industrial base, and a continuous focus on improving business environments, digitization, and infrastructure-led growth.
Both nations shared insights on the global business landscape, particularly amid recent disruptions and uncertainties in supply chains. India and Liechtenstein can leverage their respective strengths, combining India’s manufacturing depth with Liechtenstein’s specialized industrial capabilities and financial acumen. This collaboration could foster resilient value chains and create a reliable investment corridor, promoting stability in an increasingly volatile world.
Encouraging Industry Partnerships
At Hilti AG, Minister Goyal advocated for enhanced industry-to-industry partnerships, encouraging value addition, supplier connections including MSMEs, and expanding the role of India-based production in international operations. He urged Liechtenstein companies to utilize TEPA as a foundation for expanding their presence in India and to build manufacturing and innovation partnerships that align with emerging opportunities across various sectors.
Future Engagement and Investment Goals
The visit concluded with a call for intensified India–Liechtenstein relations and broader engagement with the EFTA. Goyal encouraged greater involvement of EFTA companies in key trade and investment events in India, highlighting TEPA’s ambition to attract USD 100 billion in investments and create one million direct jobs. The EFTA’s market access offer under TEPA encompasses 100% of non-agricultural products with tariff concessions on processed agricultural goods. India’s commitments also cover 82.7% of tariff lines, accounting for 95.3% of EFTA exports, while safeguarding sensitive sectors such as pharmaceuticals, medical devices, and certain agricultural goods.
India looks forward to welcoming more enterprises from Liechtenstein and the broader EFTA region, aiming to translate TEPA into tangible investments, deeper technology collaborations, and an expanded Indian presence in global trade.
Observer Voice is the one stop site for National, International news, Sports, Editor’s Choice, Art/culture contents, Quotes and much more. We also cover historical contents. Historical contents includes World History, Indian History, and what happened today. The website also covers Entertainment across the India and World.
