NEW DELHI: India and the Swiss Confederation on Monday exchanged several Memoranda of Understanding (MoUs) in the presence of Prime Minister Narendra Modi and President of the Swiss Confederation Guy Parmelin at Hyderabad House in the national capital.
Delivering a joint press statement following delegation-level talks, Prime Minister Narendra Modi highlighted the growing momentum in bilateral relations, particularly following the implementation of the historic Trade and Economic Partnership Agreement (TEPA) between India and the European Free Trade Association (EFTA).
“First of all, I appreciate his commitment to India-Switzerland relations. In October last year, with his 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 bloc in Europe,” PM Modi said.
“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,” the Prime Minister added.
Underlining steps taken to expand commercial engagements, PM Modi further said, “We have taken several important decisions to enhance market access for India’s exports in Switzerland, and to further facilitate investment between the two countries. This will increase the export of India’s agriculture, pharma, textile, and engineering goods to Switzerland. At the same time, we will attract new Swiss investment in India’s important sectors such as biotech, life sciences, banking, insurance, food processing, and sustainability.”
The Prime Minister also highlighted the signing of key agreements aimed at facilitating cross-border movement for young professionals and scholars, terming interpersonal connections the foundation of the bilateral partnership.
“People-to-people ties are the greatest strength of our partnership. With the Migration and Mobility Partnership Agreement and Young Professionals Agreement signed today, many new opportunities will open up in Switzerland for Indian students, researchers, professionals, and youth,” PM Modi said.
