Strengthening Economic Ties: India and Liechtenstein Discuss Trade Relations

Union Commerce Minister Piyush Goyal recently met with Liechtenstein’s Hereditary Prince Alois to discuss strengthening economic ties and trade relations. The focus was on enhancing cooperation under the India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA), which aims to boost investment and create jobs in India. The discussions also included potential collaborations in advanced engineering and infrastructure. With a commitment of $0 billion from the EFTA, the agreement is set to generate significant opportunities for businesses in both nations. This meeting marks a pivotal step in deepening India-Liechtenstein economic relations.

By Narendra Chaudhary Oct 28, 2026, 12:57 IST

Enhancing Trade Relations

File image of Commerce minister Piyush Goyal and Hereditary Prince Alois of Liechtenstein

(Photo: @PiyushGoyal/X)

New Delhi, Oct 28: On Wednesday, Union Minister for Commerce and Industry, Piyush Goyal, met with Liechtenstein’s Hereditary Prince Alois to explore avenues for enhancing economic and trade partnerships. The discussions included a focus on the India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA).

Goyal shared on social media, stating, "I had the honor of meeting H.S.H. Hereditary Prince Alois of Liechtenstein during his official visit to India."

He emphasized India's ongoing initiatives to improve the business environment, aiming to attract more investments through various reforms.

According to Goyal, the $0 billion investment pledge under the India-EFTA TEPA signifies a mutual goal to strengthen investment ties, stimulate growth, and create significant business opportunities.

Additionally, Finance Minister Nirmala Sitharaman engaged in talks with Hereditary Prince Alois and Hereditary Princess Sophie regarding potential collaborations in advanced engineering, infrastructure, and innovation.

Both parties concurred that enhancing bilateral relations would involve increasing investment, trade, and economic cooperation opportunities.

The leaders discussed shared interests and potential partnerships in advanced engineering, infrastructure, and innovation, as noted in an official statement.

The India-European Free Trade Association (EFTA) TEPA commenced on October 1 of the previous year, involving Liechtenstein, Switzerland, Norway, and Iceland.

This agreement includes a commitment from the European bloc to invest $0 billion over 15 years, which is expected to generate one million direct jobs in India.

The recent India–EFTA Prosperity Summit 2026, held in New Delhi, further advanced the economic relations between India and EFTA, particularly with Liechtenstein.