World News | Switzerland Sees Strong Interest in India-EFTA Trade Pact, Expects Boost to Bilateral Trade: President Guy Parmelin
Get latest articles and stories on World at LatestLY. Switzerland expects the India-EFTA Trade and Economic Partnership Agreement (TEPA) to provide a significant boost to bilateral trade in the coming years, with strong interest from Swiss companies since the pact entered into force, Swiss President Guy Parmelin said in an interview with ANI.
By Sahil Pandey
New Delhi [India], October 5 (ANI): Switzerland expects the India-EFTA Trade and Economic Partnership Agreement (TEPA) to provide a significant boost to bilateral trade in the coming years, with strong interest from Swiss companies since the pact entered into force, Swiss President Guy Parmelin said in an interview with ANI.
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Assessing the implementation of TEPA, which came into force in October 2025, the Swiss President said it has the potential to create conditions for a deeper and lasting economic relationship between the two countries, encouraging long-term investment, employment, innovation and sustainable growth.
“I assess the implementation of the agreement very positively. Interest by companies in the TEPA has been very strong since it entered into force,” the President said.
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The Swiss President said the agreement’s strong focus on investment could create a “win-win situation”, with Switzerland bringing specialised technologies, innovation capabilities and a long-term investment approach, while India offers scale, a dynamic economy, a highly skilled workforce and an increasingly important role in global value chains.
Under TEPA, EFTA countries – Switzerland, Norway, Iceland and Liechtenstein – have committed to facilitating USD 100 billion in investments in India over 15 years, with the potential to generate one million direct jobs.
On the progress towards the investment commitment, the Swiss President said Swiss companies have made or planned investments across sectors including transportation and logistics, financial services, manufacturing, pharmaceuticals and biotechnology, as well as technology and electronics.
“This effort by the private sector has been supported by over 150 promotion activities undertaken by Switzerland and the other EFTA States since 2024,” the President said.
The Swiss President also highlighted the broader potential of the India-Switzerland economic relationship, saying bilateral ties have become “closer and dynamic” and can be further deepened through trade and investment, research and innovation, and sustainable development.
“TEPA is not only a prime example of this close collaboration but also an important foundation for the years to come,” the President said.
The comments come during the Swiss President’s visit to India, with the two countries seeking to further strengthen their economic and strategic partnership.
The Swiss President also said Switzerland sees India as a key partner as it prepares to host the next AI Summit in Geneva in June 2027, and expressed hope that people-to-people ties would continue to grow alongside economic cooperation. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)