Union Commerce and Industry Minister Piyush Goyal on Wednesday met Prince Alois, the hereditary prince of Liechtenstein, to discuss stronger economic engagement and investment opportunities under the India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA).
During the courtesy call, held as part of the Prince’s state visit to India, Goyal invited Liechtenstein’s companies to explore manufacturing partnerships, technology collaboration, research and development, and closer links with Indian suppliers and micro, small and medium enterprises.
The discussions covered industrial cooperation in precision engineering, advanced manufacturing, industrial technologies and innovation.
Goyal highlighted India’s economic fundamentals, reform agenda and expanding manufacturing capabilities. He also outlined efforts to simplify regulations, strengthen digital governance and improve the ease of doing business.
According to the Ministry of Commerce & Industry, India received cumulative foreign direct investment inflows of $843 billion between 2014–15 and 2025–26, including a record $94.53 billion in 2025–26.
The Ministry also cited India’s startup ecosystem, comprising 2.50 lakh startups supporting more than 25.42 lakh jobs across over 770 districts and 56 industries. Around 52 per cent of these startups are based in non-metropolitan cities.
The India-EFTA TEPA, which entered into force on October 1, 2025, provides for EFTA states to aim to increase FDI into India by $100 billion over 15 years and facilitate the creation of one million direct jobs.
Goyal said the agreement offered opportunities to build long-term investment, manufacturing capacity, technology partnerships and employment. He highlighted India’s growing domestic market, skilled workforce and access to global value chains as advantages for international businesses.
The meeting followed the India-EFTA Prosperity Summit held in New Delhi on October 7 to mark the agreement’s first anniversary. Liechtenstein’s Minister of Home Affairs, Economy and Sport Hubert Büchel and representatives of its businesses participated in the summit.
The Ministry said both sides reaffirmed their interest in using TEPA to strengthen investment flows and deepen commercial engagement.
(PIB)
