$100 billion investment, 10 lakh jobs in 15-year plan: PM Modi meets Swiss President Parmelin

New Delhi: Prime Minister Narendra Modi on Monday said India and Switzerland are set to give a “new pace and height” to their partnership, highlighting a target of $100 billion in investment and 10 lakh direct jobs in India over the next 15 years.

Modi made the remarks after holding delegation-level talks with Swiss President Guy Parmelin at Hyderabad House in New Delhi. The two countries also exchanged several Memoranda of Understanding (MoUs) in the presence of the two leaders.

India’s first FTA with a European economic bloc

Modi highlighted the significance of the Trade and Economic Partnership Agreement (TEPA) between India and the European Free Trade Association (EFTA), which comprises Switzerland, Norway, Iceland and Liechtenstein.

Calling it a “historic” agreement, Modi said it was India’s first FTA with an economic bloc in Europe.

The agreement, which came into force on October 1, 2025, aims to boost trade and investment between India and the four EFTA countries.

“India-Switzerland friendship is centuries-old. Innovation, infrastructure and advanced technology are strong pillars of our foundation today. With the Summit today, we are going to give a new pace and height to our partnership,” Modi said.

He said the pact represents an ambitious roadmap for investment, innovation, employment and mutual prosperity.

India eyes more exports, Swiss investment

Modi said India and Switzerland had taken several decisions to expand market access for Indian exports and make investment between the two countries easier.

The measures are expected to support exports of agricultural products, pharmaceuticals, textiles and engineering goods from India to Switzerland.

At the same time, India hopes to attract more Swiss investment in sectors including biotechnology, life sciences, banking, insurance, food processing and sustainability, Modi said.

The EFTA agreement is aimed at lowering trade barriers and expanding access to each other's markets.
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New mobility agreements for Indian students, professionals

The two countries also signed agreements focused on migration and mobility and opportunities for young professionals.

Modi said the agreements would create new opportunities in Switzerland for Indian students, researchers, professionals and young people.

“People-to-people ties are the greatest strength of our partnership,” he said.

The mobility arrangements are part of wider efforts to deepen cooperation beyond trade and investment.

Swiss President calls visit a ‘stepping stone’

President Guy Parmelin, who arrived in India on Monday for a three-day State visit, described his trip as a “stepping stone” towards strengthening the long-standing relationship between the two countries.

“My visit is a stepping stone towards further growth, deepening and strengthening of our close, broad and long-standing partnership,” Parmelin said.

He said India and Switzerland share democratic values, trust and mutual respect, adding that the visit would provide an opportunity to discuss bilateral and global issues.

Parmelin also highlighted the first anniversary of the India-EFTA TEPA coming into force.

“It is the right moment to celebrate how far we have come together but, even more importantly, to shape our joint future,” he said.

Parmelin meets Jaishankar, pays tribute to Gandhi

Earlier on Monday, Parmelin paid tribute to Mahatma Gandhi at Rajghat and attended a ceremonial reception at Rashtrapati Bhavan, where he was welcomed by President Droupadi Murmu and Prime Minister Modi.

External Affairs Minister S Jaishankar also met the Swiss President and expressed confidence that his talks with Modi would expand cooperation across several areas.

Parmelin is accompanied by a high-level delegation comprising senior officials and business representatives. The visit is his first State visit to India and his second trip to the country this year after attending the AI Impact Summit in New Delhi in February.

He is also scheduled to meet President Murmu, who will host a ceremonial banquet in his honour.
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India-EFTA Prosperity Summit on October 7

The Swiss President’s visit comes ahead of the second India-EFTA Prosperity Summit scheduled for October 7.

The summit will coincide with the first anniversary of the implementation of the India-EFTA TEPA and is expected to focus on trade, investment, innovation and economic cooperation.

Switzerland is India’s largest trade and investment partner among the four EFTA countries, according to the Ministry of External Affairs.

The latest visit comes amid growing high-level engagement between India and Switzerland. Prime Minister Modi had earlier visited Switzerland in 2016 and 2018, while the last State visit by an Indian President to Switzerland took place in 2019.

(With agency inputs)