New Delhi [India], October 5 (ANI): Prime Minister Narendra Modi hailed centuries-old ties and unveiled an ambitious economic roadmap with Switzerland, targeting 100 billion dollars in investments and one million direct jobs over the next 15 years.
Earlier in the day, Prime Minister Modi and Swiss President Guy Parmelin held a delegation-level meeting at Hyderabad House in New Delhi on Monday. Following their discussions, both leaders witnessed the exchange of Memorandums of Understanding (MoUs), further cementing bilateral cooperation across key sectors.
Following the exchange of MoUs, Prime Minister Modi delivered a joint press statement alongside the Swiss leader, where PM Modi said, "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."
Continuing to outline the strategic and economic trajectory shared between the two nations, PM Modi said, "First of all, I appreciate his commitment to India-Switzerland relations. In October last year, with her personal support, we implemented a historic trade and economic partnership agreement between India and the European Free Trade Association. This is India's first FTA with any economic block in Europe. This is also an ambitious blueprint of investment, innovation, jobs and mutual prosperity. With this, we will realise 100 billion dollars investment and 10 lakh direct jobs in India in the next 15 years."
President Parmelin commenced his official engagements by attending a solemn wreath-laying ceremony at Rajghat to pay tribute to Mahatma Gandhi, accompanied by his wife, Caroline Parmelin.
External Affairs Minister S Jaishankar also called on the visiting Swiss leader. Detailing the engagement in a post on X, External Affairs Minister S Jaishankar stated, “Pleased to call on President Guy Parmelin @ParmelinG of the Swiss Confederation, visiting India on a State Visit. Deeply appreciate President Parmelin’s sentiments towards deepening our partnership, building on the promise of India-EFTA TEPA. Confident that his meeting with PM @narendramodi will further our engagement across a wide range of domains.”
Building upon these warm diplomatic exchanges, Swiss President Guy Parmelin stated on Monday that his visit serves as a “stepping stone” towards fortifying the “close and long-standing partnership” binding the two countries.
Marking the formal commencement of his itinerary, President Parmelin received an official ceremonial reception at the forecourt of Rashtrapati Bhavan, where he was greeted cordially upon arrival by President Droupadi Murmu alongside Prime Minister Modi.
Addressing members of the press following the welcome ceremony, President Parmelin remarked, “The visit is an excellent opportunity to emphasise the importance that both Switzerland and India attach to this relationship.” He further noted that diplomatic ties connecting India and Switzerland are anchored upon “shared democratic values as well as on trust and mutual respect”.
“My visit is a stepping stone towards further growth, deepening and strengthening of our close, broad and long-standing partnership. I am pleased and honoured that we have the chance to exchange views on matters of bilateral and global importance,” the Swiss head of state stated.
“I am especially glad that my stay in India will enable us to commemorate the first anniversary of the entry into force of the India-EFTA Trade and Economic Partnership Agreement, TEPA,” he added.
The India-EFTA Trade and Economic Partnership Agreement (TEPA) constitutes an expansive free trade pact established between India and the four European Free Trade Association (EFTA) member nations, comprising Iceland, Liechtenstein, Norway and Switzerland. Having been formally signed on March 10, 2024, the accord officially took effect on October 1, 2025. “It is the right moment to celebrate how far we have come together, but even more importantly, to shape our joint future,” President Parmelin observed.
Having touched down in India on Monday to undertake a three-day State visit at the invitation of Prime Minister Modi, the Swiss leader's high-level itinerary centres on enhancing bilateral collaboration across commerce, investment, scientific advancement, technological innovation and workforce mobility. The Ministry of External Affairs (MEA) noted that President Parmelin is travelling alongside a prominent delegation consisting of senior officials and corporate executives, marking his maiden State visit to India and his second journey to the nation this year, following his participation in the AI Impact Summit in New Delhi in February 2026.
During the course of the visit, President Parmelin will likewise meet with President Droupadi Murmu, who is slated to host a ceremonial banquet in his honour. The diplomatic engagement acquires distinct prominence given that President Parmelin is set to attend the second India-EFTA Prosperity Summit on October 7, signalling the inaugural anniversary of the operationalisation of TEPA.
Emphasising Switzerland's critical standing as an economic collaborator, the MEA noted that among EFTA member states, Switzerland functions as India's primary trade and investment partner, underscoring the enduring connections linking both nations and the necessity of maintaining consistent high-level dialogues.
“India and Switzerland share longstanding friendly relations. This visit will further strengthen bilateral relations, building upon the regular high-level exchanges and deepen cooperation in new areas of mutual interest,” the MEA stated.
The diplomatic undertaking transpires against a background of continuous high-level interactions between New Delhi and Bern, noting that the most recent State visit executed by an Indian President to Switzerland occurred in 2019, whereas Prime Minister Modi undertook official journeys to Switzerland in 2016 and 2018. (ANI)
"We are going to give a new pace and height to our partnership": PM Modi hails centuries-old India-Switzerland ties
