New Delhi, October 5: India and Switzerland on Monday signed five agreements following bilateral talks between Prime Minister Narendra Modi and Swiss President Guy Parmelin in New Delhi. The agreements cover a Migration and Mobility Partnership, an Exchange of Young Professionals, and cooperation on transportation technologies, mobility systems and infrastructure in identified areas.
They also include a Letter of Intent between the Department of Science and Technology and the Swiss National Science Foundation, and an Implementation Arrangement for cooperation in innovation, technology transfer and entrepreneurship.
At a joint press meet, Prime Minister Modi appreciated President Parmelin’s commitment to strengthening India-Switzerland ties. He said India implemented the historic Trade and Economic Partnership Agreement (TEPA) with the European Free Trade Association (EFTA) countries last October.
PM Modi said the agreement was India’s first Free Trade Agreement with a European economic bloc and described it as an ambitious framework for investment, innovation, employment and shared prosperity. Under the agreement, India aims to attract $100 billion in investment and create 10 lakh direct jobs over the next 15 years.
The Prime Minister said India and Switzerland had taken several important decisions to improve market access for Indian exports in Switzerland and facilitate further investment between the two countries. He said this would boost exports of Indian agricultural products, pharmaceuticals, textiles and engineering goods to Switzerland.
At the same time, India aims to attract new Swiss investments in sectors including biotechnology, life sciences, banking, insurance, food processing and sustainability. Modi said the two countries would work together to develop trusted supply chains and reliable solutions for the world.
He added that India and Switzerland had identified new areas of cooperation in military exchanges and defence production and had agreed to further deepen cooperation in nuclear energy.
PM Modi also highlighted the long history of friendship between India and Switzerland. He said Swami Vivekananda saw a glimpse of the Himalayas in the Swiss Alps in the 19th century, while Mahatma Gandhi also spent time in Switzerland and interacted with its people. According to him, memories of these historic visits continue to strengthen the friendship between the two countries.
President Parmelin arrived in New Delhi on Monday morning for a three-day state visit to India, accompanied by a high-level delegation of senior officials and business leaders. He was received at the airport by Minister of State for Road Transport and Highways Ajay Tamta.
The Swiss President was later accorded a ceremonial welcome at the forecourt of Rashtrapati Bhavan, where President Droupadi Murmu and Prime Minister Modi welcomed him. He was also given a tri-services guard of honour.
Speaking to reporters after the ceremonial welcome, Parmelin said the visit was an opportunity to underline the importance Switzerland and India attach to their relationship. He said the partnership was based on shared democratic values, trust and mutual respect.
Parmelin described his visit as a stepping stone towards further growth, deepening and strengthening of the two countries’ close, broad and long-standing partnership.
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