Modi-Parmelin talks: India, Switzerland deepen ties with migration pact and fresh economic agreements
India and Switzerland have agreed to strengthen cooperation across migration, trade, investment, nuclear energy and defence following talks between Prime Minister Narendra Modi and Swiss President Guy Parmelin.
Parmelin began a three-day visit to India, marking his first state visit to the country. The two sides signed a migration and mobility partnership agreement along with four other understandings, including a programme aimed at facilitating exchanges between young professionals.
The countries also agreed to enhance cooperation in transportation technologies, mobility solutions and infrastructure development.
The discussions covered international developments, including the Ukraine conflict and the situation in West Asia. Modi said both countries backed meaningful initiatives aimed at achieving peace.
Economic cooperation was a major focus of the talks, with India seeking greater access for its exports in the Swiss market and increased investment opportunities. Switzerland is already home to a significant number of Indian businesses, while hundreds of Swiss companies operate across various sectors in India.
Parmelin said Switzerland was keen to further strengthen trade and investment relations and expressed hope that an investment protection agreement with India could be concluded soon.
The Trade and Economic Partnership Agreement between India and the EFTA bloc, which includes Switzerland, Iceland, Liechtenstein and Norway, has provided another major boost to bilateral economic engagement.
Modi described the agreement as a roadmap for investment, innovation and employment, with India targeting USD 100 billion in investment and one million direct jobs over the next 15 years.