New Delhi, July 19 -- The free trade agreement between India and the European Free Trade Association (EFTA) will come into force on October 1, Union Commerce and Industry Minister Piyush Goyal announced on Saturday.

The agreement, officially titled the Trade and Economic Partnership Agreement (TEPA), was signed on March 10, 2024, following nearly 16 years of negotiations.

The EFTA bloc comprises Iceland, Liechtenstein, Norway, and Switzerland, with Switzerland being India's principal trading partner among the four.

Under the pact, EFTA has committed to invest USD 100 billion in India over 15 years-USD 50 billion within the first decade and another USD 50 billion in the subsequent five years.

The investment is expected to create one mi...