India Eyes Enhanced Trade Prospects with Switzerland Following FTA

Union Commerce and Industry Minister Piyush Goyal highlighted potential trade opportunities with Switzerland, emphasizing the significance of the recently signed India-EFTA Trade and Economic Partnership Agreement. Discussions with Swiss business leaders centered on exploring mutual investment and cooperation avenues in various sectors to strengthen bilateral economic ties.

Union Commerce and Industry Minister Piyush Goyal announced on Tuesday that India is looking at promising trade opportunities with Switzerland. After an engaging discussion with the Swiss business community, Goyal noted, 'We had productive talks with several key business leaders here, who recognize India's developmental strides.'

The minister said conversations with the Swiss business community highlighted prospects within India. 'There is significant enthusiasm for expanding trade with India, especially after the Free Trade Agreement with Switzerland and EFTA nations. We are working towards a Mutual Recognition Agreement to further bolster trade relations,' he stated.

The recent signing of the India-EFTA Trade and Economic Partnership Agreement has paved the way for deeper cooperation with EFTA member nations, including Switzerland. Earlier engagements saw Goyal meeting with Indian business officials in Switzerland to discuss fresh trade and investment avenues.

This series of discussions was part of Goyal's two-day Switzerland visit during his official tour to Switzerland and Sweden from June 9 to 13, 2025, with a focus on maximizing the agreement's benefits to strengthen economic ties, as mentioned by the minister in a social media post.

Goyal's Swiss tour commenced with a luncheon meeting involving CEOs of select Swiss firms and potential investors exploring Indian investments. The meeting served as a platform for strategic dialogue on India's investment climate.

Moreover, Goyal engaged in specific discussions with CEOs from the Swiss pharmaceutical and life sciences sectors, and co-chaired a Business Roundtable on the Machinery, Electrical & Metal Industry in Bern alongside Swiss Councillor Guy Parmelin, looking to enhance Swiss investments in the Indian market. (ANI)

(With inputs from agencies.)