Swiss President Guy Parmelin arrived in New Delhi on Monday for a three-day visit aimed at strengthening trade and investment ties between Switzerland and India. Parmelin met with Indian Prime Minister Narendra Modi, marking a continuation of diplomatic engagement following the signing of a significant trade agreement last year between India and the European Free Trade Association (EFTA), which includes Switzerland, Norway, Iceland, and Liechtenstein.

The 2025 trade deal, which targets investment of up to $100 billion in India over 15 years, was designed to reduce tariffs and facilitate smoother access for Indian companies to the EFTA markets, while simultaneously expanding opportunities for European firms to increase their presence in India’s economy. India is the world’s most populous country and one of the fastest-growing major economies, factors that underpin the increasing bilateral commercial interest.

Addressing reporters, Parmelin described his visit as a “stepping stone towards further growth,” emphasizing the importance of consolidating progress made under the trade agreement and exploring new areas of cooperation. Parmelin had previously visited India in February for an artificial intelligence summit in New Delhi.

In their joint news conference, Modi expressed appreciation for Parmelin’s personal support during the negotiation and implementation of the trade deal. Modi highlighted several decisions made during the meeting that are expected to enhance market access for Indian exports in Switzerland and streamline investment processes between the two countries.

According to Modi, this enhanced cooperation is anticipated to boost exports of Indian agricultural products, pharmaceuticals, textiles, and engineering goods to Switzerland. In addition, it aims to attract Swiss investments into key sectors of the Indian economy, including biotechnology, life sciences, banking, insurance, food processing, and sustainability initiatives.

The two governments also signed a new mobility agreement on Monday, which Modi noted would expand opportunities for Indian students and professionals seeking to study and work in Switzerland. This pact reflects a broader effort to deepen not only economic but also people-to-people ties between the countries. The visit underlines the continued strategic partnership between India and Switzerland with a focus on mutual economic growth and collaboration.