India and Switzerland have signed five agreements to bolster bilateral cooperation, focusing on trade, mobility, and technology. The agreements were finalized during discussions between Indian Prime Minister Narendra Modi and Swiss President Guy Parmelin, aiming to enhance collaboration in areas such as defence, nuclear energy, and investment.
The agreements encompass a range of sectors, including migration and mobility, young professionals, transportation, research, innovation, and technology transfer. A notable aspect of these agreements is the improved market access for Indian exports and an encouragement for Swiss companies to invest in key sectors like biotechnology, banking, and sustainability.
One of the agreements establishes a migration and mobility partnership aimed at tackling irregular migration and human trafficking. It includes provisions for multiple-entry visas of up to five years and renewable permits for students. Another agreement facilitates the exchange of young professionals, allowing 300 individuals from each country to engage in temporary employment, gaining professional and language experience.
Further, India and Switzerland have agreed to explore deeper cooperation in military exchanges, defence production, and nuclear energy. The two nations plan to initiate joint research projects in health, clean energy, and space while promoting cooperation in transportation technologies and sustainable infrastructure.
The signing of these agreements coincides with the first anniversary of the India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement, which aims to increase investment, trade, and employment between India and the EFTA countries. Switzerland and India also reviewed global and regional issues, stressing dialogue and diplomacy to support peace, particularly amid ongoing conflicts in Ukraine and West Asia.