Finance Minister Nirmala Sitharaman met Swiss President Guy Parmelin in New Delhi on Tuesday to advance negotiations on a Bilateral Investment Treaty aimed at boosting investment flows and deepening economic ties.
The Finance Ministry posted on X that the ministers discussed issues of common interest, including moving forward with the treaty, which is seen as mutually beneficial for both nations.
Commerce Secretary Rajesh Agarwal highlighted that India and the European Free Trade Association (EFTA) countries had implemented the Trade and Economic Partnership Agreement (TEPA) last year, marking India’s first free trade agreement with a European bloc. The agreement offers a framework for investment, innovation, jobs and shared prosperity.
Prime Minister Narendra Modi, speaking at a joint press conference with President Parmelin, stressed the need to translate the growing partnership into tangible trade and investment outcomes. He also noted that reforms in global institutions are essential to address contemporary challenges.
Modi said the two countries agreed on reforms and reaffirmed shared democratic values, rule of law, and dialogue. He highlighted India’s support for peace efforts in Ukraine and West Asia, and announced decisions to enhance market access for Indian exports in Switzerland and attract Swiss investment in sectors such as biotech, life sciences, banking, insurance, food processing and sustainability.
The meeting also covered a broad range of bilateral cooperation, including trade, investment, innovation, artificial intelligence, defence production, nuclear energy, science and technology, and people‑to‑people ties. India and the four EFTA members—Switzerland, Iceland, Norway and Liechtenstein—implemented TEPA in October 2025.
