Prince Alois visits India as Liechtenstein eyes bigger trade under EFTA pact

Liechtenstein's Hereditary Prince Alois and Hereditary Princess Sophie met President Droupadi Murmu in Delhi on Tuesday, as both countries looked to turn a new trade pact into real business. Murmu said the India-EFTA Trade and Economic Partnership Agreement (TEPA) could combine the strengths of both sides.

Her pitch was simple: Liechtenstein brings advanced manufacturing, innovation and financial services, while India offers a skilled workforce, factory capacity and a fast-growing market. Rashtrapati Bhavan said the two sides agreed that close cooperation can deliver big benefits to people in both countries.

Prince Alois is in India from October 25 to 28 at Prime Minister Narendra Modi's invitation. A delegation of officials and business leaders, including senior executives from Liechtenstein-based firms, is travelling with him. Modi held talks with him and hosted a lunch, and External Affairs Minister S Jaishankar also called on him.

TEPA was signed in March 2024 and came into force on October 1, 2025. It links India with four EFTA nations: Switzerland, Norway, Iceland and Liechtenstein. The joint statement says the wider deal aims to bring $100 billion of investment into India over 15 years and create one million direct jobs. Those targets cover the whole bloc, not Liechtenstein alone.

Priority areas for India and Liechtenstein include machinery and machine tools, precision engineering, medical technology, space, clean energy, artificial intelligence and financial services. Education, skills training and agriculture also featured in the talks.

The numbers show a modest but growing relationship. According to MEA Secretary (West) Sibi George, India sells pharmaceutical and electrical products to Liechtenstein and buys precision instruments, appliances and machinery. Cumulative investment from Liechtenstein stands at about $110 million.

Some firms are already on the ground. Hilti has a new plant in Vadodara, which the prince visited. Savanna Seats operates in India, and wealth manager LGT has opened an office in Gujarat's GIFT City. For Indian job seekers and manufacturers, that is the template: more such investments, technology transfer and skills partnerships if TEPA delivers.

Source: Moneycontrol

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