In a move to enhance bilateral ties, India and Switzerland signed five agreements on Monday, focusing on various sectors like trade, mobility, and technology. The agreements were concluded following discussions between Indian Prime Minister Narendra Modi and Swiss President Guy Parmelin, with the aim of expanding cooperation in trade, defence, nuclear energy, technology, and investment.
The agreements cover areas such as migration and mobility, young professionals, transportation, research, innovation, and technology transfer. A notable aspect is the migration and mobility partnership designed to combat irregular migration and human trafficking, which includes multiple-entry visas of up to five years and renewable permits for students. Additionally, an agreement was established to facilitate the exchange of young professionals, allowing up to 300 individuals from each country to gain temporary employment and professional experience annually.
The discussions coincided with the first anniversary of the India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement. This pact aims to boost investment, trade, and employment between India and the four EFTA countries. India anticipates that improved access to Swiss markets will support exports of agricultural products, pharmaceuticals, textiles, and engineering goods. Simultaneously, Swiss companies are being encouraged to invest in sectors such as biotechnology, life sciences, banking, insurance, food processing, and sustainability.
Beyond trade, the two countries agreed to explore increased cooperation in military exchanges, defence production, and nuclear energy. Plans are in place to initiate joint research projects in fields including health, clean energy, and space exploration. The agreements are expected to foster collaboration between research institutions, businesses, and technology companies in both nations.
Furthermore, Modi and Parmelin discussed global and regional issues, such as the conflicts in Ukraine and West Asia, emphasizing the importance of dialogue and diplomatic efforts to promote peace and stability. The comprehensive agreements reflect a mutual commitment to strengthening the India-Switzerland partnership across diverse sectors.