India and Switzerland Forge Deeper Economic Bonds

India’s growing global influence in innovation and trade found a strong echo in Bern, Switzerland, on June 9, 2025. Union Commerce and Industry Minister Shri Piyush Goyal led a high-level engagement with Swiss industrial leaders, pushing forward a strategic dialogue on deepening bilateral economic partnerships under the recently signed India-EFTA Trade and Economic Partnership Agreement (TEPA).

A Strategic Push Under TEPA

The TEPA agreement, signed earlier this year between India and the European Free Trade Association (EFTA), has opened new doors for collaboration. Shri Goyal urged Swiss firms to view India not just as a consumption market, but as a global hub for manufacturing, innovation, and skilled talent.

During his meetings, he stressed India’s commitment to a transparent regulatory environment, robust intellectual property (IP) protection, and investor-friendly policies. The Indian government, he assured, remains keen on simplifying compliance norms and accelerating approvals.

“India is not only open for business; it is ready to lead global manufacturing and innovation,” Shri Goyal told Swiss industry representatives.

Sector-Specific Roundtables: Biotech, Defence & More

Shri Goyal chaired two focused roundtables organized by the Indian Embassy in Switzerland. These sessions brought together key players in:

• Biotech and Pharma

• Healthcare

• Precision Engineering

• Defence and Aerospace

• Emerging Technologies

Indian advancements in affordability, scalability, and innovation resonated with Swiss entrepreneurs. The discussions focused on tech transfer, co-development, and green manufacturing practices.

Swiss companies showed strong interest in localizing production, co-creating R&D ventures, and forming joint ventures to serve Indian and global markets. Innovations ranging from cancer therapies and cellular research to fibre optics and cyber defence came into sharp focus.

Invest India’s EFTA Desk in Spotlight

To streamline collaboration, Shri Goyal highlighted the dedicated EFTA Desk at Invest India. The desk is designed to help Swiss investors navigate the Indian market with ease, offering:

• Regulatory support

• Market access advice

• Fast-track facilitation

He also underlined India’s proactive approach to mutual recognition agreements and regulatory harmonization, further reducing trade barriers and aligning standards.

Trust in India’s Growth Story

Swiss business leaders praised India’s growing stature as an economic powerhouse. They cited several strengths:

• A massive and rising middle class

• High-quality STEM talent

• Government commitment to ease of doing business

• Stable democracy and rising digital infrastructure

The sentiment was clear—India is a natural partner. Several firms revealed concrete plans to scale operations, invest in R&D, and make India a regional headquarters for APAC operations.

ICAI Chapter Meets Goyal

In a symbolic gesture of professional collaboration, Shri Goyal also met members of the Switzerland Chapter of the Institute of Chartered Accountants of India (ICAI). He praised the diaspora for building India’s brand globally and for bridging corporate ties between the two nations.

A Win-Win for Both Nations

From biotechnology to defence, Swiss firms are ready to align with India’s development goals. This engagement showcased not only trade potential but also long-term strategic alignment between two innovation-driven economies.