New Delhi, Oct 5: India and Switzerland have agreed to further strengthen cooperation in trade, investment, defence, infrastructure, science and technology, nuclear energy and people-to-people ties during talks between Prime Minister Narendra Modi and the President of Switzerland.
Addressing a joint press statement, Modi welcomed the Swiss President Guy Parmelin and highlighted the growing partnership between the two countries.
Modi said the implementation of the Trade and Economic Partnership Agreement between India and the European Free Trade Association (EFTA) countries last year marked a significant milestone. He said the agreement aims to facilitate $100 billion in investment in India and create one million direct jobs over the next 15 years.
The Prime Minister said India and Switzerland had taken several decisions to improve market access for Indian exports and facilitate investment between the two countries. These measures are expected to support exports of Indian agricultural products, pharmaceuticals, textiles and engineering goods to Switzerland, while encouraging Swiss investments in biotechnology, life sciences, banking, insurance, food processing and sustainability.
The two sides also identified new areas of cooperation in military exchanges and defence production and agreed to deepen collaboration in nuclear energy.
Highlighting infrastructure cooperation, Modi cited the Varanasi ropeway, Jewar Airport in Noida and railway and tunnelling projects in mountainous regions as examples of the partnership. An agreement on transport, mobility and infrastructure was also signed during the visit. India invited Swiss infrastructure companies to expand their investments and participate in capacity building, design and manufacturing.
Science and technology will remain another key pillar of bilateral cooperation. New joint research projects are expected to be launched in areas including health, clean energy and space. India also welcomed an agreement with the University of Zurich aimed at strengthening the capacity of Indian science start-ups.
The two countries also discussed greater cooperation in Yoga and Ayurveda, given their growing popularity in Switzerland.
Modi said the Migration and Mobility Partnership Agreement and the Young Professionals Agreement signed during the visit would create new opportunities for Indian students, researchers, professionals and young people in Switzerland.
On global issues, Modi said India and Switzerland share a commitment to democratic values, the rule of law, dialogue and diplomacy. He said India would continue supporting meaningful efforts towards peace in conflicts including Ukraine and West Asia.
The Prime Minister also welcomed Switzerland’s upcoming Geneva AI Summit, saying India and Switzerland could work together to promote AI that is responsible, inclusive and human-centric.
The Swiss President is also scheduled to participate in the Prosperity Summit with India-EFTA business leaders on October 7, which Modi said would help translate the trade and investment partnership into concrete outcomes.