The Department of Commerce, Government of India, organized a Chintan Shivir on "Opportunities for the Seafood Sector under the India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA)" on July 3, 2026, at the Chennai Trade Centre. The event was held on the sidelines of Seafood Expo Bharat 2026 and brought together government officials and seafood industry stakeholders.
TEPA represents India's first trade agreement with EFTA member states comprising Iceland, Liechtenstein, Norway, and Switzerland, which collectively account for a combined GDP of approximately $1.79 trillion. This is also India's first operational trade arrangement with a European economic bloc, complementing ongoing trade engagements with the European Union and United Kingdom. The agreement carries ambitious targets of facilitating $100 billion in investments into India and supporting the creation of one million direct jobs, while opening avenues for technology transfer, joint ventures, and collaboration with niche technology firms from EFTA countries.
The agreement provides substantial strategic advantages for Indian seafood exporters through significant tariff concessions. Iceland has eliminated its 55% import duty on feed, including fish feed. Switzerland reduced import duty on fats and oils of fish (other than liver oil) from 18.05% to zero. Norway eliminated its 13.16% import duty on feed, including fish and shrimp feed, reducing the tariff to zero and enhancing market access for Indian exporters.
The event was attended by Joint Secretary of the Department of Commerce, Shri Mohit Yadav, along with representatives from Invest India, Directorate General of Foreign Trade (DGFT) Regional Office Chennai, Export Inspection Council (EIC), and Federation of Indian Export Organisations (FIEO). Leading seafood exporters and businesses targeting EFTA markets also participated.
Shri Mohit Yadav provided a comprehensive overview of TEPA and highlighted wide-ranging trade and investment opportunities for Indian businesses. Invest India delivered a presentation on emerging investment opportunities across the Indian seafood value chain, while DGFT outlined various export promotion and facilitation schemes aimed at enhancing ease of doing business and improving exporter competitiveness. EIC and FIEO representatives shared insights on regulatory requirements, quality standards, and strategies for leveraging TEPA benefits.
A dedicated interactive open-house session allowed seafood exporters to engage directly with government officials and policymakers, focusing on market access, compliance with international regulatory requirements, and strategies for strengthening India's seafood exports to EFTA countries. The event concluded with a shared commitment to work collaboratively toward maximizing TEPA benefits and expanding India's seafood exports in EFTA markets.