New Delhi [India], October 27 (ANI): India is looking to attract greater investment from Liechtenstein in sectors such as technology, innovation, financial services and manufacturing as both countries seek to strengthen economic ties under the India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA).

Minister of State for Commerce and Industry Jitin Prasada discussed opportunities to expand bilateral trade, investment and business partnerships with Liechtenstein's Deputy Prime Minister and Minister of Foreign Affairs, Environment and Culture, Sabine Monauni, in New Delhi on Tuesday, according to a statement issued by the Ministry of Commerce and Industry.

Ministry said, "During the meeting, Prasada highlighted India's strong economic growth, expanding market opportunities and ongoing reforms, underscoring the country's emergence as a stable, competitive and scalable base for global businesses seeking long-term growth." 

A high-level business delegation from Liechtenstein also participated in the meeting. Prasada encouraged companies from the European country to explore investment opportunities in India, highlighting its expanding market, skilled workforce, infrastructure and policy environment.

According to the ministry's statement, the two sides explored avenues for cooperation in technology, innovation, financial services and manufacturing. The delegation included representatives from the Liechtenstein Chamber of Industry and Commerce, LGT India, Hilti, Savannah Seeds, Liechtenstein Languages, Open Cosmos and Lightrock.

Prasada highlighted India's economic growth and expanding business opportunities, noting that the country's real gross domestic product grew by 7.8 per cent in the first quarter of the 2026-27 financial year, supported by domestic demand and growth in manufacturing and services.

The discussions took place during the visit of Liechtenstein's Head of State, Hereditary Prince Alois, to India from October 25 to 28. It is his second visit to India in 2026, following his participation in the AI Impact Summit in New Delhi in February.

The India-EFTA Prosperity Summit 2026, held in New Delhi earlier this month, also provided momentum to economic relations between India and the EFTA countries.

The ministry said the meeting reaffirmed the shared commitment of India and Liechtenstein to deepen economic engagement and build stronger trade and investment partnerships by leveraging opportunities under the India-EFTA TEPA

The India-EFTA Trade and Economic Partnership Agreement (TEPA) is a free trade pact signed on March 10, 2024, between India and the four European Free Trade Association (EFTA) nations: Iceland, Liechtenstein, Norway, and Switzerland. 

Marking a major milestone in global trade relations, the agreement features an unprecedented USD 100 billion investment commitment from EFTA countries into India over 15 years, targeting the creation of one million direct jobs. 

In exchange for sweeping tariff reductions-with EFTA eliminating duties on nearly 100 per cent of Indian industrial exports and India granting phased market access to high-tech European goods. (ANI)