India, Switzerland Sign Mobility Pact, Expand Cooperation in Defence, Technology

India and Switzerland on Monday agreed to deepen cooperation in trade, investment, mobility, infrastructure, defence, nuclear energy, science and technology during Prime Minister Narendra Modi's talks with Swiss President Guy Parmelin.

At a joint press event after the talks, Modi said both sides had agreed to give fresh momentum to their economic partnership, with the India-EFTA Trade and Economic Partnership Agreement (TEPA) serving as a key pillar. Parmelin also stressed the importance of translating the pact into greater trade and investment.

A key outcome was the signing of a Migration and Mobility Partnership, aimed at facilitating legal movement while tackling irregular migration and human trafficking. The arrangement provides for multiple-entry visas of up to five years, with stays of up to six months per visit. The two countries also signed a Young Professionals Agreement, initially allowing 300 young professionals from each country to participate annually, with the number potentially rising to 500.

Modi said increased market access would create opportunities for Indian exports of agricultural products, pharmaceuticals, textiles and engineering goods to Switzerland. India is also seeking greater Swiss investment in biotechnology, life sciences, banking, insurance, food processing and sustainability.

The two sides agreed to expand cooperation in transport technology and mobility infrastructure, including electric vehicles, ropeways, tunnels and circular-economy solutions, while exploring opportunities for Swiss companies in India's infrastructure projects. Defence cooperation was another focus, with the countries identifying scope for greater military exchanges and defence production. They also agreed to strengthen cooperation in nuclear energy.

In science and innovation, India and Switzerland will promote joint work in health, clean energy and space, besides encouraging technology transfer, startups and research partnerships. The leaders also discussed the implementation of the India-EFTA TEPA, under which EFTA countries have committed to facilitating USD 100 billion in investment in India over 15 years, with the potential to create one million direct jobs.

Parmelin, who is on a three-day state visit, is accompanied by a business and academic delegation. He is scheduled to attend the India-EFTA Business Leaders Prosperity Summit on October 7. He will also meet President Droupadi Murmu, who will host an official banquet in his honour.