New Delhi, Oct 5: India and Switzerland are looking to give fresh momentum to their economic partnership, with trade, investment, infrastructure, innovation and advanced technology emerging as key areas of cooperation during Swiss President Guy Parmelin's three-day state visit to India.
Prime Minister Narendra Modi and President Parmelin held wide-ranging discussions in New Delhi on Monday, with both sides exploring opportunities to expand bilateral engagement across trade and investment, mobility, infrastructure, science and technology, critical technologies and other areas of mutual interest.
The visit comes as the India-EFTA Trade and Economic Partnership Agreement (TEPA) approaches its first anniversary of implementation. The agreement, which came into force on October 1, 2025, has created a broader framework for India to strengthen economic engagement with Switzerland and the other EFTA members—Norway, Iceland and Liechtenstein.
Stronger Trade and Investment Opportunities
For India, deeper engagement with Switzerland could open additional opportunities for exports, investment and access to advanced technologies.
The two countries are looking to expand market access and facilitate greater investment flows. Areas such as pharmaceuticals, textiles, agricultural products, engineering goods, biotechnology, life sciences, food processing, banking, insurance and sustainability offer significant scope for greater business collaboration.
India is also seeking to attract greater Swiss investment into sectors where technology, specialised expertise and capital can support domestic manufacturing and infrastructure development.
Under TEPA, the EFTA countries have committed to an investment ambition of $100 billion in India over 15 years, with the potential to support the creation of around 1 million direct jobs.
Switzerland Sees India as a Growing Business Market
For Swiss companies, India's large consumer market, expanding manufacturing base and growing technology ecosystem offer opportunities across several industries.
More than 330 Swiss companies are already operating in India, with businesses active in engineering, services, precision instruments, chemicals and pharmaceuticals. Indian companies, meanwhile, have established a presence in Switzerland in areas including IT, pharmaceuticals and machinery.
The next phase of cooperation could therefore go beyond conventional trade and focus increasingly on technology partnerships, local manufacturing, research, infrastructure and innovation.
Infrastructure and Technology Take Centre Stage
Infrastructure is emerging as another important area of collaboration.
India has already worked with Swiss expertise on projects including the Varanasi ropeway, Jewar airport and railway and tunnelling projects in mountainous regions. New opportunities are expected to involve infrastructure design, capacity building, technology and manufacturing.
The focus on critical and advanced technologies could also help connect Swiss innovation capabilities with India's expanding industrial and digital ecosystem.
For Switzerland, India offers the scale and market opportunities needed to take innovative technologies into new areas. For India, Swiss expertise can support the development of high-value manufacturing, specialised infrastructure and technology-driven industries.
Beyond Trade: A Broader Economic Partnership
The relationship is also expanding beyond merchandise trade. Cooperation in science, technology, innovation, mobility and skills is becoming increasingly important as both economies look for deeper business and people-to-people connections.
President Parmelin's visit is accompanied by a high-level delegation of officials and business leaders, underlining the importance attached to commercial engagement alongside diplomatic relations.
External Affairs Minister S. Jaishankar has also highlighted the momentum created by TEPA and the opportunity to build on the agreement to strengthen the wider India-Switzerland partnership.
A New Phase for India-Switzerland Business Ties
The strengthening of India-Switzerland relations comes at a time when both countries are looking beyond traditional trade to build more resilient and technology-oriented economic partnerships.
For Indian businesses, stronger access to Swiss investment, technology and expertise could support manufacturing, innovation and global competitiveness. For Swiss companies, India's expanding market and investment opportunities offer a platform for long-term growth.
With TEPA providing the foundation, the focus is now shifting towards turning the agreement into greater investment, technology partnerships, infrastructure projects, exports and employment opportunities.
The latest high-level engagement signals that India and Switzerland see considerable room to expand their economic relationship—and that the next phase of the partnership could be defined as much by business and innovation as by trade.
