India, Switzerland Agree to Deepen Trade, Defence, Infrastructure and Technology Cooperation.
New Delhi:
India and Switzerland have agreed to further strengthen bilateral cooperation across trade, investment, infrastructure, defence, nuclear energy, science and technology, mobility and emerging technologies, with Prime Minister Narendra Modi describing innovation, infrastructure and advanced technology as key pillars of the growing partnership between the two countries.
Addressing the joint press statement following his meeting with the President of Switzerland, Prime Minister Modi warmly welcomed the Swiss President to India and highlighted the longstanding ties between the two nations.
The Prime Minister recalled the implementation last year of the Trade and Economic Partnership Agreement between India and the European Free Trade Association (EFTA) countries, describing it as India’s first free trade agreement with an economic bloc in Europe. He said the agreement provides an ambitious framework for investment, innovation, employment and shared prosperity.
Under the partnership, India aims to attract $100 billion in investment and generate one million direct jobs over the next 15 years, the Prime Minister said.
Greater Market Access and Investment
Prime Minister Modi said India and Switzerland had taken several important decisions to expand market access for Indian exports in Switzerland and facilitate greater investment between the two countries.
The measures are expected to support increased exports of Indian agricultural products, pharmaceuticals, textiles and engineering goods to Switzerland. At the same time, India will seek to attract Swiss investments in sectors including biotechnology, life sciences, banking, insurance, food processing and sustainability.
He said the two countries would work together to develop trusted supply chains and reliable solutions for global markets.
Defence and Nuclear Energy Cooperation
India and Switzerland also identified new opportunities for cooperation in military exchanges and defence production. According to the Prime Minister, the two sides also agreed to further deepen cooperation in nuclear energy.
Infrastructure cooperation was another major area discussed during the summit. Prime Minister Modi cited the Varanasi ropeway, Jewar Airport in Noida, and railway and tunnelling projects in mountainous regions as examples of Swiss-Indian collaboration.
To strengthen cooperation in this sector, the two countries signed an agreement covering transport, mobility and infrastructure.
The Prime Minister invited Swiss infrastructure companies to expand their investments in India and participate in areas such as capacity building, design and manufacturing.
Focus on Science, Technology and Start-ups
Science and technology will remain a key component of the bilateral partnership, with India and Switzerland preparing to launch new joint research projects in priority areas such as health, clean energy and space.
Prime Minister Modi also welcomed an agreement with the University of Zurich aimed at building the capacity of India’s science start-ups.
The two countries also discussed expanding cooperation in Yoga and Ayurveda, particularly in view of their growing popularity in Switzerland.
New Opportunities for Students and Professionals
People-to-people relations were described as one of the strongest foundations of India-Switzerland ties.
Prime Minister Modi said the Migration and Mobility Partnership Agreement and the Young Professionals Agreement signed during the visit would create new opportunities in Switzerland for Indian students, researchers, professionals and young people.
India and Switzerland Call for Global Peace and Institutional Reform
The Prime Minister said India and Switzerland share a commitment to democratic values, the rule of law, dialogue and diplomacy and would continue working together for global peace and stability.
Referring to ongoing international conflicts, he said India had consistently supported meaningful efforts towards peace, including in Ukraine and West Asia.
India and Switzerland also agreed on the need for reforms in global institutions to address emerging international challenges more effectively.
Prosperity Summit to Focus on Business and Investment
Prime Minister Modi expressed gratitude to the Swiss President for visiting India with a large business delegation.
He announced that the two sides would host the Prosperity Summit on October 7 with business leaders from India and EFTA countries. The summit is expected to provide a platform for translating the potential of the India-EFTA trade and investment partnership into concrete outcomes.
Cooperation on Artificial Intelligence
The Prime Minister also highlighted cooperation in the field of artificial intelligence. He noted that India hosted the world’s largest AI Summit in February this year, while Switzerland is scheduled to take the initiative forward through the Geneva AI Summit next year.
Modi extended his best wishes to Switzerland for the success of the summit and said India and Switzerland would continue working together to promote AI that is responsible, inclusive and human-centric.
The Prime Minister concluded by thanking the Swiss President for his visit and for his support in strengthening India-Switzerland relations.
