New Delhi, Feb 19 — Union Commerce and Industry Minister Piyush Goyal held a high-level meeting with Swiss Confederation President Guy Parmelin in New Delhi, reinforcing a shared commitment to expand India–EFTA Trade and Economic Partnership Agreement (TEPA) cooperation and long-term economic engagement.
The meeting, held alongside the India AI Impact Summit 2026, emphasized balancing innovation with responsibility while accelerating collaboration in precision engineering, life sciences, renewable energy, research, and advanced technology.
Key Strategic Signals
India reaffirmed its position as the world’s 4th largest economy, with projected GDP of $4.51 trillion in 2026.
Focus on investment expansion, regulatory coordination, and institutional partnerships under TEPA.
India highlighted strengths in pharmaceuticals, vaccines, biotechnology, and advanced medical research, inviting deeper Swiss participation.
Dedicated EFTA Desk at Invest India to facilitate Swiss companies expanding operations in India.
Both sides stressed that sustained high-level engagement will strengthen bilateral trade, boost investment flows, and unlock long-term economic growth for both nations.
Why TEPA Matters
TEPA is India’s first free trade agreement with the EFTA bloc (Switzerland, Norway, Iceland, Liechtenstein) and a key gateway connecting Make in India products to high-value European markets. The pact is expected to create broad economic opportunities — from farmers and small businesses to startups, professionals, and advanced manufacturing sectors — while deepening India’s global trade integration.
