New Delhi: Finance Minister Nirmala Sitharaman held discussions with Swiss President Guy Parmelin on Tuesday on taking forward negotiations over the Bilateral Investment Treaty between the two countries, with a view to enhancing investment flows and deepening economic engagement.
“Union Minister for Finance & Corporate Affairs Smt. @nsitharaman called on H.E. Mr. @ParmelinG, Swiss President, in New Delhi, today. They held discussions on issues of common interest to both India and Switzerland, including taking forward negotiations on the Bilateral Investment Treaty which is mutually beneficial to both nations with a view to enhance investment flows and deepening economic engagement,” the Finance Ministry said on X.
India and Switzerland are strengthening their economic partnership with a focus on expanding market access, facilitating investment and deepening cooperation in infrastructure, technology, innovation and supply chains, Commerce Secretary Rajesh Agarwal had said.
In a post on X, Agarwal said India and the European Free Trade Association (EFTA) countries had implemented the Trade and Economic Partnership Agreement (TEPA) last year, describing it as India’s first free trade agreement with a European economic bloc.
The agreement provides a framework for investment, innovation, jobs and shared prosperity, he added.
Prime Minister Narendra Modi has emphasised the importance of translating the growing India-Switzerland partnership into concrete outcomes in trade and investment.
Addressing a joint press conference with President Parmelin after their talks here on Monday, PM Modi said the two countries agreed that reforms in global institutions were essential to address growing global challenges.
“India and Switzerland both believe in democratic values, rule of law, dialogue and diplomacy,” PM Modi said and added that India had consistently supported meaningful efforts towards peace in Ukraine and West Asia.
“We have taken several important decisions to enhance market access for India’s exports in Switzerland and to further facilitate investment between the two countries. This will increase the export of India’s agriculture, pharma, textile, and engineering goods to Switzerland. At the same time, we will attract new Swiss investment in India’s important sectors such as biotech, life Sciences, banking, insurance, food processing, and Sustainability,” he said.
Apart from that, PM Modi and the Swiss President reviewed the entire spectrum of bilateral ties and discussed ways to further deepen cooperation in trade, investment, innovation, Artificial Intelligence (AI), military matters, defence production, nuclear energy, science and technology, and people-to-people ties.
Moreover, India and the four EFTA members — Switzerland, Iceland, Norway and Liechtenstein — implemented TEPA in October 2025.
(IANS)
