After more than 16 years of negotiations, the EFTA countries (Switzerland, Norway, Iceland and Liechtenstein) and India signed a Trade and Economic Partnership Agreement (TEPA) in March 2024, now in the ratification phase.
The agreement represents a historic turning point for trade relations between Switzerland and India, a market of 1.4 billion consumers with rapidly growing GDP. For Swiss companies, concrete opportunities are opening up in key sectors such as watchmaking, pharmaceuticals, industrial machinery and the food sector.
India will progressively reduce duties on over 95% of tariff lines for Swiss industrial products. For the watchmaking sector, duties currently at 20-25% will be eliminated over a period of 7-10 years. For industrial machinery, reductions will be faster, with elimination within 5 years.
From a logistics perspective, Franzosini SA is already equipped to handle shipments to India thanks to its established partner network in the subcontinent. We offer comprehensive FCL/LCL sea freight and air freight services to India's major ports and airports.