President of Switzerland visits India, trade agreement signed, investments aimed, cooperation in defence production, infrastructure, science and technology, people-to-people ties enhanced.
The President of Switzerland has been warmly welcomed to India. A historic Trade and Economic Partnership Agreement between India and the European Free Trade Association (EFTA) countries was implemented last October with his personal support.
Through this agreement, the aim is to achieve targets of $100 billion in investment in India and 1 million direct jobs over the next 15 years. The friendship between India and Switzerland goes back centuries, with historic visits by Swami Vivekananda and Mahatma Gandhi.
Innovation, infrastructure, and advanced technology are strong pillars of the partnership. Several important decisions have been taken to increase market access for Indian exports in Switzerland and facilitate investment between the two countries. This will help increase exports of agricultural products, pharmaceuticals, textiles, and engineering goods to Switzerland.
Swiss investments will be attracted into key sectors such as biotechnology, life sciences, banking, insurance, food processing, and sustainability in India. There have been identified new opportunities for cooperation in military exchanges and defence production. Cooperation in nuclear energy is also to be further deepened.
Infrastructure cooperation includes the Varanasi ropeway, Jewar Airport in Noida, and railway and tunnelling projects in mountainous areas. An agreement on transport, mobility, and infrastructure has been signed to further strengthen this cooperation. Swiss infrastructure companies are invited to invest in India at a large scale.
Science and technology cooperation is a strong pillar of the partnership. Joint research projects will be launched in priority areas such as health, clean energy, and space. An agreement with the University of Zurich has been made to build the capacity of India’s science start-ups.
Given the growing popularity of Yoga and Ayurveda in Switzerland, there was a meaningful discussion on deepening cooperation in these areas. The Migration and Mobility Partnership Agreement and the Young Professionals Agreement signed today will open up many new opportunities in Switzerland for Indian students, researchers, professionals, and young people.
Both India and Switzerland believe in democratic values, the rule of law, dialogue, and diplomacy. They will continue to work together for global peace and stability.
Source:
Press Information Bureau
