India-Switzerland Bilateral Summit Strengthens EFTA Partnership
Prime Minister Narendra Modi and the President of Switzerland conducted a bilateral summit that reinforced the implementation of the historic Trade and Economic Partnership Agreement between India and the European Free Trade Association (EFTA) countries, which represents India's first Free Trade Agreement with any European economic bloc. The agreement serves as an ambitious framework targeting $100 billion in foreign investment into India and the creation of 1 million direct jobs over the next 15 years, focusing on investment, innovation, and shared prosperity.
Several key decisions were announced to enhance market access for Indian exports in Switzerland, specifically targeting increased exports of Indian agricultural products, pharmaceuticals, textiles, and engineering goods. Concurrently, the partnership aims to attract new Swiss investments into key Indian sectors including biotechnology, life sciences, banking, insurance, food processing, and sustainability initiatives, with the joint goal of developing trusted global supply chains.
New areas of cooperation were identified in military exchanges, defence production, and nuclear energy, building on existing infrastructure collaboration examples such as the Varanasi ropeway, Jewar Airport in Noida, and railway and tunnelling projects in mountainous regions. An agreement on transport, mobility, and infrastructure was signed to further strengthen this cooperation, with an invitation extended to Swiss infrastructure companies for large-scale investment in India and participation in capacity building, design, and manufacturing.
Science and technology cooperation will expand through new joint research projects in priority areas including health, clean energy, and space, alongside an agreement with the University of Zurich to build capacity for India's science start-ups. The growing popularity of Yoga and Ayurveda in Switzerland prompted discussions on deepening cooperation in these areas.
People-to-people ties were strengthened through the signing of a Migration and Mobility Partnership Agreement and a Young Professionals Agreement, which will create new opportunities in Switzerland for Indian students, researchers, professionals, and young people. Both nations reaffirmed their commitment to democratic values, rule of law, and working together for global peace and stability, particularly regarding Ukraine and West Asia, while agreeing on the necessity of reforms in global institutions.
The visit will culminate in the "Prosperity Summit" with India-EFTA business leaders on October 7, aimed at transforming trade and investment promises into concrete outcomes. Switzerland's upcoming "Geneva AI Summit" was acknowledged, with both countries committed to making AI responsible, inclusive, and human-centric.