Modi, Swiss President Parmelin Hold Talks as India-EFTA Trade Pact Completes a Year

Prime Minister Narendra Modi and Swiss President Guy Parmelin held bilateral talks at Hyderabad House in New Delhi on Monday, as the two countries sought to expand cooperation a year after the India-EFTA Trade and Economic Partnership Agreement came into force.

The meeting formed part of Parmelin’s three-day State visit, which focuses on trade, investment, science, technology, innovation and workforce mobility. Regional and global developments, alongside cooperation in multilateral forums, were also on the agenda outlined by the Ministry of External Affairs.

TRADE AGREEMENT IN FOCUS

External Affairs Minister S Jaishankar met Parmelin earlier in the day, highlighting the scope for stronger ties through the India-EFTA agreement, known as TEPA.

“Deeply appreciate President Parmelin’s sentiments towards deepening our partnership, building on the promise of India-EFTA TEPA,” Jaishankar wrote on X.

The agreement covers India and the four European Free Trade Association members: Switzerland, Iceland, Liechtenstein and Norway. Signed on March 10, 2024, it took effect on October 1, 2025.

Parmelin is scheduled to attend the second India-EFTA Prosperity Summit on October 7, commemorating the pact’s first anniversary. Switzerland is India’s largest trade and investment partner within EFTA, according to the MEA.

‘A STEPPING STONE’ TO STRONGER TIES

Following a ceremonial welcome at Rashtrapati Bhavan, where President Droupadi Murmu and Modi received him, Parmelin described the visit as an opportunity to strengthen a relationship founded on shared democratic values, trust and mutual respect.

“My visit is a stepping stone towards further growth, deepening and strengthening of our close, broad and long-standing partnership. I am pleased and honoured that we have the chance to exchange views on matters of bilateral and global importance,” he said.

The Swiss president also welcomed the opportunity to mark a year of TEPA during his stay.

“It is the right moment to celebrate how far we have come together, but even more importantly, to shape our joint future,” he said.

BUSINESS DELEGATION ACCOMPANIES PRESIDENT

Parmelin is travelling with senior officials and business leaders on his first State visit to India. It is his second trip to the country this year, following his participation in the AI Impact Summit in New Delhi in February.

Earlier on Monday, he paid tribute to Mahatma Gandhi at Rajghat, accompanied by his wife, Caroline Parmelin. His itinerary also includes a meeting with Murmu, who will host a State banquet in his honour.

The MEA said the visit would build on regular high-level exchanges and deepen cooperation in new areas of mutual interest.

With inputs from ANI