India and Switzerland are set to broaden their partnership across trade, investment, technology, defence production and nuclear energy following talks between Prime Minister Narendra Modi and visiting Swiss President Guy Parmelin. The 2 countries signed 5 agreements, including pacts on migration and mobility and the exchange of young professionals.
Modi said innovation, infrastructure and advanced technology would remain key pillars as both countries work to take bilateral ties to new levels.
Trade and investment get fresh focus
The 2 countries agreed to establish a committee to support trade and investment and address trade-related concerns. The move builds on the Trade and Economic Partnership Agreement (TEPA) signed between India and the European Free Trade Association (EFTA) countries in 2024.
Modi said TEPA was India’s first FTA with a European economic bloc. “It is also an ambitious blueprint for investment, innovation, jobs, and shared prosperity. Through this, we aim to achieve the targets of $100 billion in investment in India and 1 million direct jobs over the next 15 years,” he said.
TEPA includes greater market access for Indian goods and services, a $100 billion investment commitment over 15 years, 1 million jobs in India and stronger ties with Switzerland, Norway, Iceland and Liechtenstein.
Mobility pact to support Indian professionals
The migration and mobility agreement will create new opportunities for Indian students, researchers, professionals and young people in Switzerland. It provides multiple-entry visas for up to 5 years, stays of up to 6 months per visit and renewable 1-year student permits.
A separate MoU will facilitate exchanges of young professionals taking temporary employment in each other’s countries to build professional and language skills. The programme covers 300 people annually from each country, which may rise to 500. It also includes a 30/90-day timeline for verifying nationality and residency status.
Modi said both sides had decided to improve market access for Indian exports and encourage Swiss investment in biotechnology, life sciences, banking, insurance, food processing and sustainability.
“This will help increase exports of Indian agricultural products, pharmaceuticals, textiles, and engineering goods to Switzerland. At the same time, we will attract new Swiss investments into key sectors in India, such as biotechnology, life sciences, banking, insurance, food processing, and sustainability,” Modi said.
Parmelin called the partnership mutually beneficial. “India gains from capital, technology transfers, and facilitated access to markets for high-value-added goods. Switzerland, for its part, benefits from exchanges with an immense partner experiencing sustained growth, at a time when global trade has become more exposed and unpredictable,” he said.
Global issues and business cooperation
The leaders also discussed Ukraine and West Asia. Modi said both countries support democratic values, rule of law, dialogue and diplomacy.
“Whether it is Ukraine or West Asia, India has consistently supported every meaningful effort towards peace,” he said, adding that global institutions also need reforms to address growing challenges.
Modi thanked Parmelin for bringing a large business delegation and attending the “Prosperity Summit” with India-EFTA business leaders. He said the summit would help convert the trade and investment partnership into concrete outcomes.
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