Daijiworld Media Network - New Delhi

New Delhi, Jul 6: The Centre organised a high-level Chintan Shivir in Chennai to help states and seafood exporters leverage the opportunities created under the India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA), with a focus on expanding exports through reduced tariffs and enhanced market access.

Hosted by the Department of Commerce on the sidelines of Seafood Expo Bharat 2026 at the Chennai Trade Centre, the brainstorming session brought together government officials, industry representatives and exporters to explore ways of maximising the benefits offered by the trade agreement.

Officials highlighted that the India-EFTA TEPA provides significant advantages for the seafood sector by lowering import duties across EFTA member countries, thereby improving the competitiveness of Indian products in European markets.

Under the agreement, Iceland has abolished its 55 per cent import duty on feed, including fish feed. Switzerland has reduced tariffs on fish fats and oils—excluding liver oil—from 18.05 per cent to zero, while Norway has eliminated its 13.16 per cent duty on fish and shrimp feed, creating fresh export opportunities for Indian businesses.

Beyond tariff concessions, the agreement is expected to encourage technology transfer, joint ventures and collaboration with specialised firms from EFTA countries, while opening new avenues for fishermen, seafood processors and exporters, particularly in coastal states such as Tamil Nadu.

The India-EFTA TEPA marks India's first trade agreement with the four-member European Free Trade Association, comprising Iceland, Liechtenstein, Norway and Switzerland. Together, these economies have a combined GDP of nearly 1.79 trillion US dollars and represent an important market for merchandise and services trade.

The agreement is also India's first operational trade pact with a European economic bloc and complements its ongoing trade negotiations with the European Union and the United Kingdom. It aims to facilitate 100 billion US dollars in investments into India while supporting the creation of one million direct jobs.

The Chintan Shivir was attended by Joint Secretary in the Department of Commerce, Mohit Yadav, along with representatives from Invest India, the Directorate General of Foreign Trade regional office in Chennai, the Export Inspection Council and the Federation of Indian Export Organisations. Leading seafood exporters and companies targeting EFTA markets also participated in the discussions.

Addressing the gathering, Yadav outlined the trade and investment opportunities available under the TEPA and encouraged businesses to make full use of the agreement to strengthen India's export performance.

Officials from Invest India presented opportunities across the seafood value chain, while DGFT representatives explained export promotion initiatives and facilitation schemes designed to improve ease of doing business. Representatives from the EIC and FIEO also briefed participants on quality standards, regulatory compliance and strategies for effectively utilising the benefits available under the trade pact.