New Delhi, Oct. 29 -- India's free trade agreement with the European Free Trade Association (EFTA) bloc has officially come into force, marking a major step in the government's efforts to expand access to developed markets. The Trade and Economic Partnership Agreement (TEPA), which took effect on 1 October, is expected to generate investments worth US$100 billion and create at least one million jobs over the next 15 years.

Commerce and Industry Minister Piyush Goyal described the agreement as "historic", saying it "opens a lucrative market for Indian farmers, fishermen and MSMEs" and will accelerate the Viksit Bharat 2047 mission.

"EFTA countries have pledged an investment of $100 billion over 15 years - the first such commitment in any...