India and Switzerland Enhance Economic Ties with New Initiatives

India and Switzerland are taking significant steps to strengthen their economic partnership, focusing on expanding market access and facilitating investments. Commerce Secretary Rajesh Agarwal highlighted the implementation of the Trade and Economic Partnership Agreement (TEPA) with EFTA countries, marking a pivotal moment in trade relations. Prime Minister Modi emphasized the importance of translating this partnership into concrete outcomes, particularly in sectors like agriculture, pharmaceuticals, and technology. The discussions also covered reforms in global institutions and cooperation in various fields, including AI and defense. This collaboration aims to enhance bilateral trade and attract Swiss investments in key areas of the Indian economy.

By Narendra Chaudhary Oct 6, 2026, 12:58 IST

Strengthening Economic Collaboration

File image of PM Modi and Swiss President Guy Parmelin(Photo: @gauagg/X)

New Delhi, Oct 6: India is enhancing its economic collaboration with Switzerland, focusing on improving market access, encouraging investments, and fostering cooperation in areas such as infrastructure, technology, innovation, and supply chains, according to Commerce Secretary Rajesh Agarwal.

Agarwal shared insights on X, highlighting that India and the European Free Trade Association (EFTA) nations had put into effect the Trade and Economic Partnership Agreement (TEPA) last year, marking India's inaugural free trade agreement with a European economic group.

This agreement establishes a framework aimed at promoting investment, innovation, job creation, and shared prosperity, Agarwal noted.

Prime Minister Narendra Modi has stressed the necessity of converting the burgeoning India-Switzerland partnership into tangible results in trade and investment, Agarwal added.

Earlier this week, PM Modi reiterated the mutual commitment to democratic principles, the rule of law, and diplomacy, emphasizing the ongoing collaboration for global peace and stability.

During a joint press conference with Swiss President Guy Parmelin following their discussions in New Delhi on Monday, PM Modi stated that both nations concurred on the need for reforms in global institutions to tackle escalating global challenges.

"India and Switzerland uphold democratic values, the rule of law, and the importance of dialogue and diplomacy," PM Modi remarked, noting India's consistent support for meaningful peace efforts in Ukraine and West Asia.

He further mentioned, "We have made significant decisions to enhance market access for Indian exports to Switzerland and to facilitate investment between our nations. This will boost the export of Indian agricultural, pharmaceutical, textile, and engineering products to Switzerland while attracting new Swiss investments in critical sectors in India, including biotech, life sciences, banking, insurance, food processing, and sustainability."

Additionally, PM Modi and President Parmelin reviewed the full range of bilateral relations and explored avenues to deepen cooperation in trade, investment, innovation, artificial intelligence (AI), military affairs, defense production, nuclear energy, science and technology, and cultural exchanges.

Furthermore, India and the four EFTA countries—Switzerland, Iceland, Norway, and Liechtenstein—implemented TEPA in October 2025.