Oct 6 – Swiss President Guy Parmelin began a three-day state visit to India on Monday, holding talks with Prime Minister Narendra Modi on expanding trade, investment and bilateral cooperation.

Parmelin was accorded a red-carpet welcome before meeting Modi, while President Droupadi Murmu hosted him at Rashtrapati Bhavan and held a banquet in his honour.

Murmu said India and Switzerland share warm and cordial relations based on common values of democracy and the rule of law, with cooperation spanning trade and investment, science and technology, innovation, culture and people-to-people ties.

She said the implementation of the historic India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA) had created greater opportunities to expand bilateral trade and investment.

“Switzerland is an important trade and investment partner for India,” Murmu said, noting that Swiss companies have invested in key sectors in India and have a significant presence in infrastructure, particularly in the construction of roads, railway bridges and tunnels.

She said the two countries could also explore new areas of cooperation, including clean and green technology and artificial intelligence.

Parmelin said his visit was a “stepping stone towards further growth”, coming a year after India and the four-member EFTA bloc, comprising Switzerland, Norway, Iceland and Liechtenstein, signed the trade agreement.

Under the agreement, EFTA has committed to investing $100 billion in India over 15 years. The pact also reduces tariffs, giving Indian companies greater access to EFTA markets while opening more opportunities for European businesses in India.

“It is the right moment to celebrate how far we have come together but, even more importantly, to shape our joint future,” Parmelin said.

Modi thanked Parmelin for his “personal support” for the EFTA trade agreement, saying India and Switzerland had taken several decisions to expand market access for Indian exports and facilitate investment between the two countries.

“These decisions will increase the export of India’s agriculture, pharma, textile, and engineering goods to Switzerland,” Modi said.

He added that the measures could attract increased Swiss investment in sectors including biotechnology, life sciences, banking, insurance, food processing and sustainability.

India and Switzerland also signed a migration and mobility partnership agreement, which Modi said would create greater opportunities for Indian students and professionals in Switzerland.

The two countries also agreed to deepen cooperation in research and technology transfer, while discussions covered nuclear energy and defence.

According to the Indian President’s office, the two leaders expressed confidence that Parmelin’s visit would further strengthen relations and deliver greater benefits to the people of both countries.

The visit is Parmelin’s second to India this year. He was previously in New Delhi in February for the AI Impact Summit.