India and Switzerland Sign Five Pacts to Boost Trade and Mobility

India and Switzerland signed five new pacts during talks between Prime Minister Narendra Modi and Swiss President Guy Parmelin in New Delhi. The agreements focus on professional mobility, youth exchanges, transport technology, research, and innovation.

Pacts and Trade Goals

The two leaders marked the first anniversary of the Trade and Economic Partnership Agreement between India and the European Free Trade Association. Prime Minister Modi noted that this trade deal aims to bring one hundred billion dollars in investments and create one million jobs in India over fifteen years. The newly signed migration pact sets up rules for equal treatment, stops illegal migration and human trafficking, and allows long-stay options including multi-entry permissions and student permits. A separate youth exchange plan allows three hundred to five5 hundred young workers per country to gain temporary job experience annually.

Defence and Global Issues

Modi and Parmelin also discussed expanding ties in defence production, military exchanges, and nuclear energy. President Parmelin stressed the need to wrap up an investment protection pact and protect intellectual property rights. Both leaders talked about global conflicts, including those in Ukraine and West Asia, agreeing that dialogue and diplomacy are vital for world peace.

Context

Switzerland is part of the European Free Trade Association, a group that also includes Iceland, Norway, and Liechtenstein, and stands as India's largest trading partner within that bloc. Trade between the two nations sits at twenty-five billion dollars, supported by hundreds of Swiss firms operating inside India.