Piyush Goyal Meets Liechtenstein’s Prince Alois to Explore Investment Opportunities Under India-EFTA TEPA

Commerce Minister Piyush Goyal met Liechtenstein’s Prince Alois to explore investment, manufacturing and technology partnerships under the India-EFTA trade agreement, aiming to strengthen bilateral economic cooperation.

Piyush Goyal Meets Liechtenstein’s Prince Alois to Boost Investment Under India-EFTA Trade Pact

Union Commerce and Industry Minister Piyush Goyal met Prince Alois, the hereditary prince of Liechtenstein, on Wednesday to discuss expanding economic cooperation and investment opportunities under the India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA).

The meeting took place during Prince Alois’s state visit to India. Discussions focused on encouraging Liechtenstein-based companies to invest in India, establish manufacturing partnerships, collaborate on technology and research, and strengthen connections with Indian suppliers and micro, small and medium enterprises (MSMEs).

According to the Ministry of Commerce and Industry, both sides expressed interest in using the trade agreement to deepen commercial engagement and promote long-term investment.

Piyush Goyal Invites Liechtenstein Companies to Invest in India

During the meeting, Goyal encouraged businesses from Liechtenstein to explore opportunities across India's expanding industrial and manufacturing sectors.

The discussions covered potential cooperation in several areas, including:

• Precision engineering

• Advanced manufacturing

• Industrial technologies

• Research and development

• Technology collaboration and innovation

• Partnerships with Indian suppliers and MSMEs

Goyal highlighted India's expanding manufacturing capabilities, economic fundamentals and ongoing reform initiatives. He also pointed to efforts to simplify regulations, improve digital governance and make it easier for businesses to operate in the country.

These measures, he said, could help international companies establish partnerships, access Indian supply chains and explore opportunities in the domestic market.

India Records $843 Billion in Foreign Direct Investment

During the discussions, the Commerce Ministry highlighted India's strong foreign investment figures as an indicator of its economic attractiveness.

According to the ministry, India received cumulative foreign direct investment (FDI) inflows of $843 billion between 2014–15 and 2025–26.

The country recorded FDI inflows of $94.53 billion in 2025–26, which the ministry described as a record.

India's large domestic market, expanding manufacturing base, skilled workforce and access to international value chains were also highlighted as advantages for foreign investors.

The government has been pursuing regulatory reforms and digital governance initiatives to improve the business environment and attract investment across sectors.

India's Startup Ecosystem Offers Opportunities for Collaboration

Goyal also highlighted the scale of India's startup ecosystem and its potential to support innovation and business partnerships.

According to figures cited by the ministry, India has approximately 2.50 lakh startups, supporting more than 25.42 lakh jobs across over 770 districts and 56 industries.

Around 52% of these startups are located in non-metropolitan cities, indicating that entrepreneurial activity extends beyond the country's major urban centres.

This expanding ecosystem could provide opportunities for Liechtenstein-based businesses to collaborate with Indian enterprises in technology development, research, manufacturing and other innovation-driven activities.

Closer cooperation could also help smaller businesses connect with international partners and participate in broader supply chains.

India-EFTA TEPA Targets $100 Billion in Investment

The India-EFTA Trade and Economic Partnership Agreement is central to efforts to strengthen economic ties between India and the EFTA member states.

The agreement entered into force on October 1, 2025. Under TEPA, EFTA states aim to increase foreign direct investment into India by $100 billion over 15 years and facilitate the creation of one million direct jobs.

The framework is intended to encourage investment, expand trade and promote cooperation between businesses across the participating economies.

Goyal highlighted the agreement's potential to support long-term investment, increase manufacturing capacity, strengthen technology partnerships and generate employment.

For Indian businesses, closer engagement with EFTA companies could also create opportunities to access advanced technologies, specialised expertise and international markets.

India-EFTA Prosperity Summit Reinforces Economic Ties

The meeting between Goyal and Prince Alois followed the India-EFTA Prosperity Summit held in New Delhi on October 7. The event marked the first anniversary of the agreement's signing, according to the ministry's announcement.

Liechtenstein's Minister of Home Affairs, Economy and Sport, Hubert Büchel, participated in the summit alongside representatives from the country's business community.

The gathering provided another platform to discuss investment opportunities and strengthen commercial relationships between India and EFTA member states.

The latest meeting continued these efforts, with both sides reaffirming their interest in using TEPA to increase investment flows and deepen economic engagement.

What the Meeting Means for India-Liechtenstein Business Relations

The discussions reflect a broader effort to translate the India-EFTA agreement into practical business opportunities.

Potential cooperation in precision engineering, advanced manufacturing and industrial innovation could help connect Liechtenstein's specialised businesses with India's expanding industrial ecosystem.

For India, attracting investment and technology partnerships remains important for manufacturing growth, employment generation and integration into global value chains.

The success of these initiatives will depend on how effectively businesses on both sides identify projects, establish partnerships and make use of the agreement's provisions.

Conclusion

Piyush Goyal's meeting with Prince Alois highlighted opportunities to expand India-Liechtenstein economic cooperation under the India-EFTA TEPA. With investment targets, manufacturing partnerships and technology collaboration on the agenda, both sides are seeking to strengthen commercial ties and support long-term economic growth.