New Delhi, 27 October (H.S.): The visit of Liechtenstein’s Hereditary Prince Alois to India is expected to provide fresh momentum to economic relations between the two countries, creating new opportunities for greater engagement between their governments and businesses. During talks with Prime Minister Narendra Modi on Tuesday, the two sides discussed ways to expand cooperation in technology, innovation and skill development.

At the invitation of Prime Minister Modi, Prince Alois is on a state visit to India from October 25 to 28. He received a ceremonial welcome at Rashtrapati Bhavan on Tuesday morning, while the Prime Minister hosted a banquet in his honour. The Prince is accompanied by his wife, Hereditary Princess Sophie, along with a high-level official delegation and a business delegation comprising senior representatives of companies based in Liechtenstein. The delegation includes Liechtenstein’s Foreign Minister and Deputy Prime Minister, as well as chief executives and senior representatives of businesses.

Liechtenstein is a small but highly prosperous constitutional monarchy in Central Europe, situated between Switzerland and Austria.

At Hyderabad House on Tuesday, Prime Minister Narendra Modi and Hereditary Prince Alois discussed measures to expand bilateral trade and investment. Advanced manufacturing, financial services, agriculture, space, education and skill development were identified as key areas for cooperation. The two sides also exchanged views on regional and global developments and discussed strengthening cultural ties and people-to-people exchanges.

Addressing a press conference on the Prince’s visit, Ministry of External Affairs Secretary (West) Sibi George said the visit coincided with the first anniversary of the implementation of the India–European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA). The agreement envisages investments worth USD 100 billion from EFTA countries over 15 years and the creation of one million direct jobs in India.

The two sides also discussed a proposed agreement to avoid double taxation, George said.

He noted that Prince Alois had been accompanied by a business delegation from Liechtenstein. Bilateral trade includes Indian exports of pharmaceuticals and electrical products, while imports from Liechtenstein include precision instruments, household appliances and machinery. Cumulative foreign direct investment from Liechtenstein into India has amounted to approximately USD 110 million.

Earlier, Prince Alois visited Hilti’s new state-of-the-art manufacturing facility in Vadodara. Several Liechtenstein-based companies, including Hilti and Savana Seats, already have a presence in India.

The two countries also explored opportunities to strengthen cooperation in skill development and vocational education through institutional partnerships, exchanges of expertise and closer engagement between industries. These initiatives are expected to help expand economic collaboration and create further opportunities for businesses in both countries.

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Hindusthan Samachar / Jun Sarkar