In a move aimed at reinforcing bilateral ties, India and Switzerland have signed five agreements to bolster cooperation in various sectors, including trade, mobility, and technology. The agreements were formalized following discussions between Indian Prime Minister Narendra Modi and Swiss President Guy Parmelin, focusing on expanding partnerships in areas such as defence, nuclear energy, technology, and investment.
The agreements cover vital areas like migration and mobility, young professionals, transportation, research, innovation, and technology transfer. This collaboration is expected to enhance market access for Indian exports and stimulate increased investment opportunities. As part of the agreements, Switzerland and India are working towards improving Indian exports in agriculture, pharmaceuticals, textiles, and engineering goods, while encouraging Swiss investments in biotechnology, life sciences, banking, insurance, food processing, and sustainability sectors.
A notable aspect of the agreements is the migration and mobility partnership, which aims to address issues of irregular migration and human trafficking. It includes provisions for multiple-entry visas valid for up to five years and renewable permits for students. Additionally, a separate agreement will facilitate an exchange program for young professionals, allowing 300 individuals from each country to gain temporary employment and professional experience annually.
On the defence and technology front, both nations expressed intentions to explore increased cooperation in military exchanges, defence production, and nuclear energy. They plan to launch joint research projects in health, clean energy, and space and promote technology collaboration in transportation, sustainable infrastructure, electric vehicles, and other mobility systems. These initiatives are anticipated to strengthen ties between research institutions, businesses, and technology firms in both countries.
The discussions took place as Switzerland celebrated the first anniversary of the India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement, designed to boost trade, investment, and employment between India and the EFTA countries. Both nations also addressed global and regional concerns, including the ongoing conflicts in Ukraine and West Asia, advocating for dialogue and diplomatic efforts to support peace and stability.