Why it is in the news
1 October 2026 marks one year since the India–EFTA Trade and Economic Partnership Agreement (TEPA) entered into force, linking India with the four European Free Trade Association states — Iceland, Liechtenstein, Norway and Switzerland. Writing for the anniversary, Iceland's Ambassador to India Benedikt Höskuldsson called TEPA and the pending EU–India FTA complements, not rivals — “one plus one equals three” — while India and EFTA are reported to be preparing a first-year review in New Delhi this month.
The exam angle
Issue: TEPA is India's first trade agreement that trades tariff concessions for an investment and jobs pledge. Its first year raises the question of whether such pledges are enforceable and whether a low-utilisation FTA can deliver for Indian exporters.