Piyush Goyal chairs business roundtable in Liechtenstein to advance India-EFTA TEPA implementation

New Delhi [India], January 8 (ANI): Union Minister of Commerce and Industry Piyush Goyal chaired a business roundtable with leaders from prominent Liechtenstein companies, focusing on the implementation of the India-EFTA Trade and Economic Partnership Agreement (TEPA). The visit marks the first time an Indian Cabinet Minister has visited the country, signalling a deepening of bilateral relations following the operationalisation of the landmark trade pact.
"Highlighted that the India-EFTA TEPA is not just a trade agreement, but a framework to promote investment, technology collaboration, skill development, and resilient value chains. I invited Liechtenstein businesses to engage with India, explore opportunities offered by the $100 billion commitment to invest in India by EFTA nations, and make it a long-term home for their ambitions, deepening our partnership and working together to unlock the full potential of India-Liechtenstein economic cooperation," Goyal said on X.
The Minister also visited Hilti Group headquarters and met with CEO Jahangir Doongaji. Discussions centered on advancing localization and scaling global shipments from India. "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. Also discussed technology collaboration for safer, smarter infrastructure supported by expanding investments, rapid innovation, and strong domestic capacity building," he said on X.
Earlier in the day, the Minister also met with the top leadership of Liechtenstein to discuss the strengthening of economic ties and the implementation of the India-EFTA TEPA.
In a series of posts on X, Goyal emphasised that the partnership aims to boost investment flows, manufacturing growth, and job creation. During his meeting with Brigitte Haas, Prime Minister of Liechtenstein, Goyal focused on combining India's young talent with Liechtenstein's advanced industrial capabilities.
"We discussed strengthening economic and investment ties, with a focus on the India-EFTA TEPA to boost investment flows, manufacturing growth & job creation, resulting in mutual prosperity for both our nations. Also, exchanged views on cooperation in skill development, vocational training, and industry-academia linkages, combining India's young talent with Liechtenstein's advanced industrial capabilities," he said.
The Minister also met with Sabine Monauni, Deputy Prime Minister and Minister of Foreign Affairs, to discuss trade expansion and innovation.
"We discussed opportunities for trade expansion, innovation & clean tech, and explored ways to deepen our mutually beneficial ties, especially after the operationalisation of the India-EFTA TEPA. Emphasised that our unique partnership, where India brings talent, scale & demand, and Liechtenstein contributes high-value manufacturing & specialised engineering, offers significant scope to accelerate trade, investment, and technology flows," Goyal said on X.
During a courtesy call on H.S.H. Hereditary Prince Alois of Liechtenstein, Goyal highlighted how the TEPA brings the two economies closer together. He noted that Liechtenstein's industrial capabilities complement the "Make in India" priorities and create opportunities for sustainable finance and green investments.
Goyal stated that this collaboration "will also generate opportunities for our skilled workforce through cooperation in sustainable finance, green investments, energy transition, and climate action."
"My visit, which is first by an Indian Cabinet Minister to this country, reflects how the India-EFTA Trade and Economic Partnership Agreement (TEPA) is bringing our two economies closer. I also handed over a letter from PM @NarendraModi ji inviting H.S.H. Hereditary Prince Alois to visit India to attend the India-AI Impact Summit being held in New Delhi in February 2026," the Minister said on X.
The India-EFTA TEPA, signed in March 2024 and entered into force on October 1, 2025, involves Iceland, Liechtenstein, Norway, and Switzerland. Goyal previously noted that the agreement brings capital and technology to India, aligning with the objective of building resilient global supply chains. The commerce ministry has indicated that the partnership strengthens links between the nations as trusted partners in investment and innovation. (ANI)