One million jobs expected in Tamil Nadu with new EFTA deal
Tamil Nadu's small businesses are set to benefit from the recently implemented India-European Free Trade Association (EFTA) agreement, which brings together Switzerland, Norway, Iceland, and Liechtenstein.
The deal aims for $100 billion in investments over the next 15 years and could generate up to one million jobs—welcome news shared at the recent Tamil Nadu-Europe MSME Conclave 2025.
Lower tariffs and increased investment opportunities are expected to make it easier for local entrepreneurs to grow.
TEPA's impact on Iceland and Switzerland
Thanks to TEPA, 85% of Swiss exports will see reduced tariffs on their exports to India—good news for brands like Logitech and Nestle that already have a presence here.
Iceland is also getting a boost: 95% of its exports will see reduced or zero tariffs, especially in premium seafood, tech, and geothermal energy.
Iceland is also planning sessions with industry leaders to help everyone make the most of these new opportunities.