Beyond trade, India–EFTA TEPA needs complementary mobility and innovation frameworks to deliver its promise. Examine in the context of India–Switzerland ties.

The India–EFTA TEPA (Trade and Economic Partnership Agreement) was signed in March 2024. It goes beyond tariff cuts, since EFTA states pledged to raise FDI in India by USD 100 bn over 15 years [3]. Tariff cuts alone cannot deliver that pledge. The October 2026 Swiss State Visit added frameworks for moving people and ideas that TEPA itself does not provide [1].

Why trade alone falls short

• Gold-driven deficit: In 2024 India exported USD 1.667 bn of goods to Switzerland and imported USD 25.166 bn, mostly gold bullion [2]. TEPA left the effective duty on gold unchanged, so tariff cuts cannot narrow most of this gap [3].
• Investment gap: Swiss FDI into India was USD 10.748 bn over 2000–2024 [2]. Under Article 7.1, about USD 5 bn a year is needed [3].
• Services promises stay on paper: EFTA's commitments on Mode 4 and MRAs for nurses, accountants and architects need visas to work [3].

Mobility frameworks

• The Migration and Mobility Partnership (MMP) gives multiple-entry visas valid for up to 5 years and renewable 1-year student permits [1].
• The Young Professionals Agreement allows 300 people per country each year, which may rise to 500 [1]. It follows India's model with France, Germany and the EU [4].
• In return, India cooperates against irregular migration, with a 30/90-day verification timeline [1].

Innovation frameworks

• The DST–SNSF Letter of Intent and AIT India (with Zurich University of Applied Sciences) link early-stage startups to Swiss academia [1]. They build on the 2003 S&T Agreement, ISJRP (2005) and the Innovation Platform (2023) [2].
• The MoRTH–EAER transport MoU on EVs, ropeways and tunnels gives Swiss capital specific projects to invest in [1]. The EFTA Desk helps channel that investment [3].

Limitations

• Quotas are modest, and the 2016 VET MoU lapsed [2].
• The bilateral investment treaty was terminated under the 2015 Model BIT policy, which weakens investor assurance [2].
• The MRAs are still unsigned [3].

Overall, TEPA sets the terms, while the mobility and innovation frameworks give it working routes for investment, talent and technology. Time-bound MRAs, a joint body to check degrees, and outcome reporting by DST can stop these instruments from lapsing. This would turn a long friendship into the investment-led partnership that SDG 8 (decent work and growth) and SDG 17 (partnerships) call for.