New Delhi, June 12: Union Commerce and Industry Minister Piyush Goyal stated on Friday that India and Switzerland have confirmed their strong and enduring partnership. He emphasized that both parties are committed to enhancing economic engagement and strategic cooperation under the India-EFTA Trade and Economic Partnership Agreement (TEPA).
In a post on the social media platform X, Goyal mentioned a productive meeting with Swiss President Guy Parmelin.
He highlighted the shared intent to deepen bilateral economic relations and advance cooperation through the TEPA framework during their discussions.
Goyal wrote on X that his meeting with President Parmelin reaffirmed the robust and long-term partnership between India and Switzerland, which includes a mutual commitment to strengthen economic engagement and strategic cooperation under the TEPA.
This meeting comes at a time when India is actively working to expand trade and investment relations with developed economies through free trade agreements.
Earlier this week, Goyal noted that India’s FTAs are designed to support long-term growth by increasing global engagement, attracting capital, promoting innovation, enhancing quality standards, and creating job opportunities.
The minister described the TEPA with the European Free Trade Association as a key framework for trade, investment, and innovation-based cooperation among member countries, including India, Switzerland, Norway, Liechtenstein, and Iceland.
According to Goyal, EFTA countries have committed to investing $100 billion in India over a 15-year period under the agreement, which aims to create one million direct jobs.
He mentioned that India is currently in the second year of implementing the agreement, and discussions on investment projects are actively progressing.
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