India and Switzerland have signed five agreements aimed at strengthening their bilateral cooperation in trade, technology, and mobility. The agreements were finalized during discussions between Indian Prime Minister Narendra Modi and Swiss President Guy Parmelin, focusing on key areas such as migration, trade, and technological collaboration.
The agreements encompass a migration and mobility partnership designed to tackle irregular migration and human trafficking issues. This partnership includes provisions for multiple-entry visas of up to five years and renewable permits for students. Additionally, an agreement was established to facilitate the exchange of young professionals, allowing 300 individuals from each country annually to gain temporary employment and professional experience in the other country.
In trade, India and Switzerland discussed enhancing market access for Indian exports, particularly in sectors like agriculture, pharmaceuticals, textiles, and engineering. Swiss companies are being encouraged to invest in Indian sectors such as biotechnology, life sciences, banking, and sustainability, which could bolster economic ties between the two nations.
The countries have also agreed to explore further cooperation in defense production, military exchanges, and nuclear energy. Joint research projects are anticipated in health, clean energy, and space, along with initiatives to promote advancements in transportation technologies and sustainable infrastructure.
These discussions coincided with the first anniversary of the India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement, which aims to boost trade and investment between India and the four EFTA countries. The agreements are expected to facilitate collaboration among research institutions, businesses, and technology firms in both India and Switzerland.
Additionally, both leaders addressed global and regional issues, including the ongoing conflicts in Ukraine and West Asia, emphasizing the importance of dialogue and diplomatic efforts to foster peace and stability.