Piyush Goyal Visits Liechtenstein, Pitches India–EFTA Investments
Commerce Minister reviews TEPA implementation, invites Liechtenstein firms to expand manufacturing and innovation ties with India.
GG News Bureau
Vaduz (Liechtenstein), 7th Jan: Union Minister of Commerce and Industry Piyush Goyal undertook an official visit to Liechtenstein on Tuesday, reviewing the implementation of the India–EFTA Trade and Economic Partnership Agreement (TEPA) and pitching India as a stable and scalable destination for long-term investments.
During the visit, Goyal paid a courtesy call on Hereditary Prince Alois von und zu Liechtenstein at Vaduz Castle, met Prime Minister Brigitte Haas and Deputy Prime Minister and Foreign Minister Sabine Monauni, interacted with the business community, and visited Hilti AG to discuss industry-to-industry partnerships.
The minister said the visit reflected India’s commitment to translating TEPA into sustained trade, investment and manufacturing partnerships. He recalled Prime Minister Narendra Modi’s remarks on India being viewed globally as a ray of hope amid uncertainty and underlined that India’s partnerships aim to deliver real outcomes for MSMEs, farmers, fishermen and communities.
TEPA is India’s first free trade agreement with the European Free Trade Association (EFTA) group comprising Iceland, Liechtenstein, Norway and Switzerland. Goyal said the agreement marks a shift to a higher-quality economic relationship and showcases India’s expanding manufacturing ecosystem built on scale, competitiveness and reliability.
Highlighting India’s growth trajectory, Goyal said the country is now the world’s fourth-largest economy with an estimated GDP of USD 4.13 trillion in 2025, offering reform momentum, a large consumer market, deepening industrial base and improved ease of doing business.
At Hilti AG, he encouraged stronger partnerships, greater value addition and expanded India-based production for global operations. He invited Liechtenstein firms to use TEPA as a platform to grow their India presence and participate in India’s expanding opportunities.
The visit concluded with a call to intensify India–Liechtenstein and broader India–EFTA engagement, noting that TEPA carries an ambition to facilitate USD 100 billion in investments into India and support the creation of one million direct jobs.
