PM Modi, Swiss President Guy Parmelin Hold Talks in New Delhi, Discuss Trade and Technology

Prime Minister Narendra Modi held bilateral talks with Swiss President Guy Parmelin in New Delhi on Monday, with the two leaders discussing ways to strengthen cooperation between India and Switzerland across trade, investment, technology, infrastructure and other key areas. The meeting took place during Parmelin’s visit to India and focused on expanding the long-standing partnership between the two countries. The discussions also covered opportunities for greater collaboration in emerging technologies, innovation and economic development.

India and Switzerland signed agreements aimed at strengthening cooperation in areas including transportation technologies, mobility systems, infrastructure and science and innovation. The agreements are expected to facilitate greater exchange of expertise and technology between the two countries and create opportunities for collaboration in advanced sectors.

Trade and investment were also central to the discussions. Prime Minister Modi highlighted the potential of the India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement to deepen economic ties between India and the EFTA countries, which include Switzerland, Norway, Iceland and Liechtenstein.

Under the agreement, India has set an ambitious target of attracting around $100 billion in investment over a period of 15 years. The investment commitment is also expected to support the creation of about 1 million direct jobs in India. Modi said India is looking to expand its exports while encouraging greater Swiss investment in the country. Areas identified as having potential for increased cooperation include biotechnology, life sciences, banking, insurance, food processing and sustainability.

The two sides also discussed the importance of strengthening cooperation in science, research and technological innovation. Greater technology transfer and partnerships between institutions and businesses could provide opportunities for both countries to develop new solutions and expand their presence in emerging industries.

Switzerland has remained an important economic and technological partner for India, with Swiss companies having a significant presence in sectors ranging from financial services and pharmaceuticals to manufacturing and engineering. India, meanwhile, offers Swiss businesses access to a large and expanding market. The EFTA agreement is viewed as an important component of these efforts, particularly because of its investment and employment commitments.

The Swiss president’s visit also underlines the broader effort by India and Switzerland to expand their relationship beyond traditional economic ties and build stronger cooperation in technology, infrastructure, research and innovation.