New Delhi: India and Switzerland exchanged several Memoranda of Understanding (MoUs) on Monday in the presence of Prime Minister Narendra Modi and Swiss President Guy Parmelin at Hyderabad House in New Delhi.
Addressing a joint press statement after delegation-level talks, PM Modi highlighted the growing momentum in bilateral ties following the implementation of the historic Trade and Economic Partnership Agreement (TEPA) between India and the European Free Trade Association (EFTA).
Modi said the agreement, implemented last October with Parmelin’s support, is India’s first FTA with an economic bloc in Europe.
He described it as a blueprint for investment, innovation, jobs and mutual prosperity, with a target of $100 billion in investment and 10 lakh direct jobs in India over the next 15 years.
The Prime Minister said both sides have taken steps to improve market access for Indian exports to Switzerland, particularly agriculture, pharmaceuticals, textiles and engineering goods.
India also aims to attract Swiss investment in biotechnology, life sciences, banking, insurance, food processing and sustainability.
Modi further highlighted the signing of the Migration and Mobility Partnership Agreement and Young Professionals Agreement, saying they will create new opportunities in Switzerland for Indian students, researchers, professionals and youth.
