India and Switzerland are expanding their partnership beyond traditional diplomatic ties, with five new agreements aimed at strengthening cooperation in mobility, technology, transport, scientific research and entrepreneurship.
The agreements were finalised during talks between Prime Minister Narendra Modi and Swiss President Guy Parmelin in New Delhi, marking an important step in the growing economic and strategic relationship between the two countries.
The pacts cover a wide range of areas. They include cooperation on migration and mobility, exchange of young professionals, transportation technologies and infrastructure, scientific research, innovation, technology transfer and entrepreneurship.
Together, the agreements are expected to create more avenues for professionals, researchers, entrepreneurs and businesses from both countries to work together.
A major focus of the discussions was the expanding economic relationship between India and Switzerland under the India-EFTA Trade and Economic Partnership Agreement (TEPA).
Prime Minister Modi highlighted the significance of the agreement, under which India has set an ambitious target of attracting $100 billion in investment and generating one million direct jobs over 15 years.
The partnership is also expected to give Indian businesses greater access to the Swiss market. New opportunities could emerge for Indian exports in sectors including agriculture, pharmaceuticals, textiles and engineering goods.
At the same time, India is looking to encourage greater Swiss investment in high-value and emerging sectors such as biotechnology, life sciences, banking, insurance, food processing and sustainability.
The two sides also discussed the importance of building dependable supply chains and developing technologies and solutions that can serve markets beyond India and Switzerland.
The relationship is expanding into strategic areas as well. India and Switzerland have identified opportunities to increase military exchanges and cooperation in defence production, while discussions also included possibilities for deeper collaboration in nuclear energy.
President Parmelin described his visit as an opportunity to reinforce the importance both countries attach to their relationship. He stressed that the partnership is rooted in democratic values, trust and mutual respect, and expressed confidence that the visit would help take bilateral cooperation to a wider level.
The two countries also share a long history of cultural and people-to-people connections. Prime Minister Modi referred to the historical association of figures such as Swami Vivekananda and Mahatma Gandhi with Switzerland, noting that these links continue to add depth to the relationship.
During his India visit, President Parmelin also met External Affairs Minister S. Jaishankar, who welcomed Switzerland’s interest in taking the bilateral partnership forward and highlighted the opportunities created by the India-EFTA agreement.
The Swiss President also paid tribute to Mahatma Gandhi at Rajghat and is scheduled to meet President Droupadi Murmu, who will host an official banquet in his honour.
With the latest agreements bringing together trade, investment, research, technology and human mobility, India-Switzerland relations are moving towards a broader economic partnership, creating fresh opportunities for businesses, innovators, skilled professionals and young people in both countries.
