India trade deal with EFTA could open new opportunities for Norwegian and Icelandic salmon.
India’s new trade and economic partnership agreement with the European Free Trade Association (EFTA) has come into effect, reducing tariffs on a wide range of goods from Switzerland, Norway, Iceland and Liechtenstein.
The Trade and Economic Partnership Agreement (TEPA), signed in March 2024, will see India cut tariffs on 80–85 percent of imports from EFTA countries to zero. In return, EFTA members committed to invest $100 billion over 15 years and support the creation of one million direct jobs in India.
For Norwegian exporters, the agreement could ease access to a market where seafood consumption is rising but high tariffs have been a barrier. India’s middle class is expanding and demand for imported protein sources, including salmon, is expected to grow in coming years.
India imported $32.4 billion in goods from EFTA countries last year, the bulk of which came from Switzerland. The TEPA framework may create scope for Norwegian salmon to gain a stronger foothold in the Indian market, particularly as tariffs on fresh and frozen fish are lowered.
India’s seafood imports are still modest compared to other Asian markets, but the agreement signals New Delhi’s willingness to liberalise trade with European partners. With the United States imposing 50 percent tariffs on Indian goods, India has sought closer ties with other trading blocs, including the UK and the EU.
For Norway’s salmon industry, the deal represents a potential long-term opportunity. However, the extent of the benefit will depend on how tariff schedules are applied to seafood categories and how quickly Indian cold-chain and retail infrastructure can support large-scale imports.
