Piyush Goyal concludes successful visit to Switzerland, reinforces momentum for partnership under EFTA TEPA

The Switzerland leg of the visit focused on advancing India–Switzerland economic cooperation and operationalising the Trade and Economic Partnership Agreement (TEPA) signed earlier this year between India and the European Free Trade Association (EFTA).

During the visit, Shri Goyal held productive meetings with top leadership from the Swiss government and industry, aimed at reinforcing strategic synergies and unlocking new avenues for trade, investment, and innovation-led growth. He met with Federal Councillor Guy Parmelin, Head of the Federal Department of Economic Affairs, Education and Research (EAER), and State Secretary Helene Budliger Artieda to chart a forward-looking roadmap for TEPA implementation. Discussions focused on regulatory cooperation, skills development, innovation partnerships, and mechanisms to facilitate faster investment decision-making.

The Minister engaged extensively with Swiss industry leaders across sectors including biotech and pharma, healthcare, precision engineering, defence, and emerging technologies.

In his sectoral roundtables and bilateral meetings, Goyal highlighted India’s growing economic strength, policy stability, and the government’s commitment to creating a conducive and facilitative ecosystem for global investors.

Companies welcomed India’s ambitious infrastructure expansion, technology-driven governance, and expanding domestic consumption base, viewing India as both a growth destination and a global manufacturing hub.

A major highlight of the visit was Shri Goyal’s participation in the 18th Swissmem Industry Day held in Zurich on June 10.

He was warmly received by delegates and senior members of Swissmem, the apex association representing Switzerland’s Mechanical, Electrical, and Metal (MEM) industries.

The event, attended by over 1,000 participants from across Europe, featured discussions on industrial innovation, sustainability, and global competitiveness—areas where India and Switzerland are seen as natural partners.

In his keynote address, Shri Goyal invited Swiss companies, including SMEs and deep-tech innovators, to scale up investments in India by leveraging the new trade architecture offered by TEPA.

He spoke about India’s demographic dividend, globally recognised engineering talent, and robust supply chains, encouraging Swiss industry to anchor R&D, establish local manufacturing bases, and co-create technologies for the Global South.

An immediate standout outcome of this was the swift resolution of a facilitation request by Endress+Hauser, a global process automation company with a growing presence in India.

During discussions, the company raised the issue of land parcel availability near their existing facility in Maharashtra..

Within hours, the matter was resolved through coordinated efforts by Goyal and Indian authorities, demonstrating the Government of India’s commitment to fast-tracking investor concerns and ensuring a seamless business environment.

The resolution was hailed by industry members as a model for responsive governance.

Goyal also held several one-on-one meetings with Swiss companies expressing interest in India.

These included discussions on expansion strategies, setting up new R&D centres, deepening localisation, talent development, and building robust MSME linkages.

Many companies conveyed their intent to use India not only as a domestic market but also as a global manufacturing and export base. Interest was particularly strong in sectors such as advanced manufacturing, industrial automation, clean technology, and healthcare innovation.

Throughout his engagements, the Minister was accompanied by a high-level delegation from Indian industry associations—ASSOCHAM, CII, and FICCI—further underscoring India’s whole-of-government and whole-of-industry approach to economic diplomacy.

In his meeting with members of the Switzerland Chapter of the Institute of Chartered Accountants of India (ICAI), Shri Goyal appreciated their contributions to building India’s global reputation for financial excellence and professional standards.

The visit concluded on a note of shared optimism and mutual commitment to scale up the India–Switzerland partnership. Swiss stakeholders across sectors reaffirmed their confidence in India’s rise as a global economic powerhouse and welcomed the Government of India’s collaborative and reform-oriented approach.

As India charts its journey toward becoming a $5 trillion economy, this visit has set the tone for accelerated collaboration with innovation-driven, trusted partners like Switzerland. With TEPA as a new enabler, both countries are well poised to unlock high-impact opportunities in trade, investment, and knowledge partnerships.

In Sweden, the Minister will co-chair the 21st Session of the Indo-Swedish Joint Commission for Economic, Industrial and Scientific Cooperation (JCEISC) with Benjamin Dousa, Minister for International Development Cooperation and Foreign Trade.

During his visit the Minister is also scheduled to hold bilateral meetings with Benjamin Dousa, Minister for Foreign Trade, and Håkan Jevrell, State Secretary to the Minister of Development Cooperation and Foreign Trade.

These deliberations are aimed to reinforce the existing robust economic relationship and identify new opportunities for growth, aligning with India's long-term economic objectives and global partnerships.

Key engagements will involve an India - Sweden Business Leaders' Round Table and one-on-one meetings with leading Swedish companies.

These discussions will cover a wide range of industries where Sweden excels, including advanced manufacturing, innovation, green technologies, and sustainable solutions. Companies like Ericsson, Volvo Group, IKEA, Sandvik, Alfa Laval, and SAAB are among those with a significant presence or interest in enhancing ties with India.

Minister Goyal will also engage with the Indian diaspora and address media interactions, further strengthening the people-to-people connections and communicating the vision for the India-Sweden partnership.

This visit reflects the deepening alignment of strategic priorities between India and its European partners, aiming to translate high-level commitments into sustainable economic partnerships that foster innovation, resilience, and shared growth.