The Finance Ministry issued Notification No. 41/2025-Customs, Notification No. 42/2025-Customs and Notification No. 43/2025-Customs all dated September 30, 2025, announced significant tariff concessions for goods imported from Switzerland, Norway, and Iceland, marking the first tranche of benefits under the newly established India-EFTA (European Free Trade Association) Trade Agreement. These measure aims to boost trade and economic cooperation between India and these key European nations.
Under the new notifications, various goods imported from Switzerland, Norway, and Iceland will receive exemptions from a portion of customs duties, Agriculture Infrastructure and Development Cess (AIDC), and Health Cess. These exemptions apply to specific goods as described in the respective tables appended to each notification, provided they fall under the specified tariff items of the First Schedule to the Customs Tariff Act, 1975.
Crucially, the exemption for any import will only be available if the importer can satisfy the Deputy Commissioner of Customs or Assistant Commissioner of Customs that the goods originate from Switzerland, Norway, or Iceland, as per the Customs (Administration of Rules of Origin under Trade Agreements) Rules, 2020. Further details and procedures related to these exemptions are expected to be notified in the official Gazette by the Central Government.
This move is anticipated to make imports from these EFTA countries more competitive in the Indian market, benefiting various sectors and consumers alike, and solidifying India’s commitment to strengthening international trade ties.
The Notifications can be accessed at: https://a2ztaxcorp.net/wp-content/uploads/2025/10/cst-41-42-43-of-2025.pdf
