NEW DELHI [India]: India has officially deposited the Instrument of Ratification of the Trade and Economic Partnership Agreement (TEPA) between India and the European Free Trade Association (EFTA) at the Ministry of Foreign Affairs of Norway, the depository entity of TEPA. This crucial step was announced by the Indian Embassy in Norway in a post on X, marking a significant milestone in bilateral cooperation.
With India’s ratification, all five parties to the agreement—India and the four EFTA member states: Iceland, Liechtenstein, Norway, and Switzerland—have now submitted their original instruments of ratification. This development sets the stage for the treaty to officially enter into force within the next three months, with Commerce and Industry Minister Piyush Goyal previously stating the agreement would be implemented from October 1, 2025.
The Indian mission hailed this as a “landmark event which will herald greater trade and economic partnership between India and EFTA.” The TEPA is an ambitious agreement, notable for being the first time India has signed an FTA with four developed nations as a single economic bloc. A key highlight of the pact is a binding commitment from the EFTA bloc for $100 billion in investment in India over the next 15 years, aiming to create 1 million direct jobs. This investment will be delivered in two phases: $50 billion within 10 years and another $50 billion in the subsequent five years.
In return for this investment, India will reduce or eliminate import duties on a range of EFTA products, including Swiss watches, chocolates, and cut and polished diamonds. India has offered concessions on 82.7% of its tariff lines, covering 95.3% of EFTA exports, while EFTA offers 92.2% of its tariff lines, covering 99.6% of India’s exports. The agreement also aims to boost India’s services exports in key areas like IT, business services, and education, while providing Indian companies an opportunity to integrate into EU markets via EFTA members.
Deepening High-Tech Collaboration
The ratification comes amid India’s concerted efforts to deepen bilateral collaboration in high-tech sectors, particularly in energy exploration and carbon capture technologies. This was underscored by the recent visit of Indian Ambassador to Norway, Acquino Vimal, to several key innovation hubs in Norway, including Mustad on July 4, 2025, Bright House, Norwegian Cybersecurity Cluster, NTNU Gjøvik, and Raufoss Industripark.
Petroleum and Natural Gas Minister Hardeep Puri’s visit to Norway on July 7 further highlighted the growing relevance of international collaboration. Puri emphasized India’s renewed push to develop a full exploration and production (E&P) deepwater technology ecosystem, as the country plans to explore over 2.5 lakh sq km in the Open Acreage Licensing Policy (OALP) Round 10. He described Round 10 as one of the largest offshore exploration bidding rounds globally, offering potential investors the freedom to select blocks of their choice by submitting an Expression of Interest (EOI).
During a roundtable with representatives of the Offshore Energy Cluster in Bergen, Norway, Minister Puri held discussions on advanced technologies critical for hydrocarbon exploration, particularly deep-sea exploration, including well services, subsea operations, drilling tools, and monitoring technologies. Companies present included TechnipFMC, Reach Subsea, DNV Group, Odfjell Drilling, and Equinor India.
Exploring Carbon Capture and Blue Hydrogen
To provide momentum to India’s efforts to achieve energy security and sustainable energy transition, Minister Puri also visited the Northern Lights CO2 Terminal in Bergen, Norway. This is a pioneering carbon storage project, funded by the Norwegian Government and partnered by Equinor, Shell, and TotalEnergies. The project aims to store up to 100 million tonnes of carbon dioxide, transporting CO2 from capture sites by ship to a receiving terminal for intermediate storage, before piping it for permanent storage 2,600 meters under the seabed.
Puri noted, “We are reviewing this, and similar projects, to upgrade and expand India’s energy capabilities. Norway’s expertise in deepwater exploration, seismic oil surveys, offshore wind and carbon capture and storage (CCS) technologies aligns well with India’s ambitious energy transition agenda.”
Furthermore, the minister visited the CCB Energy Blue Hydrogen Plant, a first-of-its-kind commercial blue hydrogen facility in Kollsnes, Norway. This plant produces blue hydrogen with integrated CO2 capture, leveraging proprietary “ZEG-H₂” reforming technology. The captured carbon is then transported to the adjacent Northern Lights facility for storage. The pilot plant produces approximately 1 ton of hydrogen per day while capturing nearly all associated CO2.
These engagements underscore India’s strategic push to leverage international partnerships and advanced technologies to bolster its energy security, expand exploration capabilities, and accelerate its energy transition agenda, aligning with the broader objectives of the newly ratified TEPA.