India marked the second anniversary of the India-EFTA Trade and Economic Partnership Agreement (TEPA) on Saturday, celebrating the milestone alongside the presentation of the National Intellectual Property (IP) Awards. Commerce and Industry Minister Piyush Goyal highlighted key achievements in trade, innovation, and export promotion over the past week.
Speaking on X, Goyal noted that the India-EFTA pact has begun delivering tangible results, including Iceland’s $30 million investment in Maharashtra’s fisheries sector. He said the agreement envisions a legally binding investment commitment of $100 billion over 15 years, with the potential to create one million direct jobs, strengthening India’s global trade footprint.
The minister also presented the National IP Awards, recognizing the contributions of scientists, innovators, MSMEs, entrepreneurs, and academic institutions, including IITs, for advancing India’s innovation-led growth. In a separate recognition, 11 women leaders from MSMEs were honoured with the FICCI FLO National MSME Awards for their achievements in entrepreneurship.
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Highlighting India’s integration into global supply chains, Goyal said that nearly 65 per cent of developed markets are now covered under India’s free trade agreements, offering domestic manufacturers greater opportunities. He also chaired a meeting with the Consultative Committee on Promotion of Export of Marine Products to discuss enhancing value addition, improving global competitiveness, and strengthening compliance and infrastructure in the sector.
On the export front, Goyal noted that the first consignment of 25 metric tonnes of GI-tagged Joha rice from Assam has been shipped to the United Kingdom and Italy. Previously, the aromatic rice had been exported to Vietnam and five Middle Eastern countries, reflecting India’s expanding agricultural export portfolio.
The minister also engaged with international partners to promote trade and investment. On Friday, he spoke with Patrik Jonsson, Executive Vice President of Lilly International, USA, regarding Eli Lilly’s operations and investments in India, while a virtual interaction with Greece’s Deputy Minister of Foreign Affairs, Harry Theoharis, explored ways to deepen cooperation in trade, investment, tourism, and maritime connectivity.
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