India, Switzerland Sign Pacts on Mobility, Infrastructure, Science; Agree to Expand Trade, Investment and Defence Ties

New Delhi, Oct 5 (KNN) India and Switzerland on Monday signed agreements on migration and mobility, young professionals, transport infrastructure and science and technology, while agreeing to expand market access for Indian exports and deepen cooperation in defence and nuclear energy.

The decisions were taken during talks between Prime Minister Narendra Modi and Swiss Confederation President Guy Parmelin, who is on a three-day state visit to India. 

India-Switzerland Trade Ties To Deepen

Modi said the India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA), which includes Switzerland, Iceland, Liechtenstein and Norway, is expected to attract USD 100 billion in investment and create one million direct jobs in India over the next 15 years.

He noted that the two countries had decided to expand Swiss market access for Indian agriculture, pharmaceuticals, textiles and engineering exports, while encouraging Swiss investment in biotechnology, life sciences, banking, insurance, food processing and sustainability.

More than 330 Swiss companies operate in India across sectors including engineering, services, precision instruments, chemicals and pharmaceuticals, while Indian companies have a presence in Switzerland.

Modi highlighted that the India-EFTA Prosperity Summit scheduled for Wednesday would seek to translate the trade and investment partnership into concrete outcomes.

Defence, Nuclear And Infrastructure Cooperation

India and Switzerland identified new opportunities for military exchanges and defence production and agreed to deepen cooperation in nuclear energy.

A separate agreement on transport and infrastructure cooperation will cover areas including electric mobility, ropeways, tunnels and circular-economy technologies. Modi invited Swiss companies to invest in India's infrastructure sector, including in design, manufacturing and capacity building.

He cited the Varanasi ropeway, Jewar Airport and railway and tunnelling projects in hilly areas as examples of existing infrastructure cooperation.

Mobility Pact To Expand Opportunities

The Migration and Mobility Partnership provides for multiple-entry visas of up to five years, with stays of up to six months per visit, and renewable one-year student permits. It also seeks to prevent irregular migration, human exploitation and trafficking.

The Young Professionals Scheme will facilitate temporary employment exchanges for professional and language development, with an annual quota of 300 persons from each country, expandable to 500.

Research And Innovation Cooperation

India and Switzerland also signed a Letter of Intent between India's Department of Science and Technology and the Swiss National Science Foundation to support exploratory research and long-term scientific collaboration in priority areas.

An implementation arrangement with Zurich University of Applied Sciences will promote innovation, technology transfer and entrepreneurship through the Indo-Swiss Academia-Industry Training programme for early-stage startups.

Modi said new joint research projects in health, clean energy and space would also be launched.

(KNN Bureau)