New Delhi [India], October 27 (ANI): Days after the first anniversary of the operationalisation of the India-EFTA Trade and Economic Partnership Agreement (TEPA), the state visit of Hereditary Prince Alois of Liechtenstein to India provided an important impetus to deepen economic ties between the two nations through heightened government-to-government (G2G) and business-to-business (B2B) engagements.
The India-EFTA Trade and Economic Partnership Agreement (TEPA) completed its first anniversary on October 1, 2026, after officially entering into force on October 1, 2025.
Detailing the core trade imperatives driving the bilateral talks, Ministry of External Affairs (MEA) Secretary (West) Sibi George stated during a press briefing, “The visit provides an important opportunity to promote economic ties by greater G2G and B2B engagements. The visit assumes special significance as it is taking place during the commemoration of the first anniversary of operationalization of India EFTA Trade and Economic Partnership Agreement, TEPA, as India hosted the second Prosperity Summit in New Delhi earlier this month.”
Elaborating on current trade trends and existing commercial partnerships, George outlined the movement of goods, corporate investment, and Liechtenstein’s expanding presence across Indian industries.
“Bilateral engagement has steadily expanded to new areas of cooperation, but there is considerable scope to further strengthen partnership in technology, innovation, and skill development. Several Liechtenstein companies is accompanying His Serene Highness. Some of the Liechtenstein companies do their trade with India through Switzerland… India’s exports include pharma and electrical items and other things. Indian imports include precision instruments, appliances, and machinery and devices. The cumulative FDI inflows from Liechtenstein to India amounts to $110 million… Several Liechtenstein -based companies have a presence in India already, including the Savanna Seats and Hilti Corporation… His Highness, yesterday visited Hilti’s state-of-the-art new manufacturing facility in Vadodara. A leading Lichtenstein company, LGT, is present in India in wealth management and investment sector and also has opened an office in the gift city in Gujarat,” he said.
Secretary George further emphasized the future roadmap for cooperation, pointing to human capital development and strategic frameworks centered on key economic pillars.
“Discussions also included exploring opportunities for cooperation in skill development and occasional education, including through institutional partnerships, exchange of expertise, and industry linkages… There was clear emphasis on advancing three T’s, Trade, Technology, and Talent, for deepening bilateral cooperation and cooperation with the EFTA countries,” he said.
The state visit comes at the invitation of the Prime Minister of India, spanning October 25 to 28. This marks the fifth visit of Prince Alios to India, following his earlier visit to New Delhi in February to attend the AI Impact Summit, where he held a meeting with the Prime Minister.
Hereditary Prince Alois is accompanied on this visit by Hereditary Princess Sophie, alongside a high-level official and business delegation that includes the Foreign Minister and Deputy Prime Minister of Liechtenstein, as well as CEOs and senior representatives of Liechtenstein-based companies.
During the visit, MEA Secretary highlighted, Hereditary Prince Alois was accorded a ceremonial welcome at the Rashtrapati Bhavan. The Prime Minister subsequently held a bilateral meeting with Prince Alios during which both leaders discussed “ways to enhance bilateral trade and investment with a focus on expanding cooperation in advanced manufacturing, technology, innovation, financial services, agriculture, space, education, and skills development.”
Highlighting the diplomatic engagements of the visit, External Affairs Minister S Jaishankar called on Prince Alois in the morning. The Prime Minister hosted a banquet lunch in honor of Prince Alios, and later in the evening, the President received him and hosted a banquet dinner in his honor.
India and the Principality of Liechtenstein established diplomatic relations in 1993 with the Indian Ambassador to Switzerland concurrently accredited as Ambassador to the Principality. The year 2023 marked the 30th anniversary of the establishment of bilateral diplomatic relations, as per an official statement by the Ministry of External Affairs.
The visit comes amid growing engagement between India and Liechtenstein, particularly following the operationalisation of the India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement in 2025. (ANI)
Related reading
