New Delhi, 05 October (H.S.): Prime Minister Narendra Modi said on Monday that India has taken several important decisions to expand market access for its exports to Switzerland and facilitate investment between the two countries. These measures will boost India's exports of agricultural, pharmaceutical, textile and engineering products to Switzerland, while attracting Swiss investment in sectors such as biotechnology, life sciences, banking, insurance, food processing and sustainable development.

Prime Minister Modi held bilateral talks with Swiss President Guy Parmelin at Hyderabad House in New Delhi on Monday. In a joint statement following the talks, Modi said that India and Switzerland share a longstanding friendship and that innovation, infrastructure and advanced technology have emerged as strong pillars of the partnership between the two countries. The two sides have identified new possibilities for military exchanges, defence production and cooperation, and have also agreed to further deepen cooperation in the field of nuclear energy.

The Prime Minister said that cooperation between the two countries is also strengthening in the fields of science and technology. New joint research projects will be launched in areas such as healthcare, clean energy and space. He welcomed the agreement with the University of Zurich to enhance the capabilities of Indian science startups and said that cooperation in the fields of yoga and Ayurveda would also be expanded.

Modi said that the Migration and Mobility Partnership Agreement and the Young Professionals Agreement would open up new opportunities in Switzerland for Indian students, researchers, professionals and young people. He said that both countries believe in democratic values, the rule of law, dialogue and diplomacy, and would continue to work together for global peace and stability.

Modi said that the historic agreement between India and the EFTA countries had come into force in October last year with his support. He noted that it is India's first free trade agreement with a European economic grouping.

He said that the India-EFTA Business Leaders' Prosperity Summit would be held on October 7 in his presence. The conference will serve as an important platform for translating the potential of the trade and investment partnership into concrete outcomes. Modi also extended his best wishes to Switzerland for the success of the AI Summit to be held in Geneva next year.

Prime Minister Modi said that the European Free Trade Association (EFTA) would invest USD 100 billion in India over the next 15 years under the Trade and Economic Partnership Agreement. The agreement aims to generate one million direct jobs. He described the pact as an ambitious roadmap for investment, innovation, employment and mutual prosperity.

Modi said that the ropeway project in Varanasi, Jewar Airport in Noida, and railway and tunnel projects in hilly regions are examples of India-Switzerland infrastructure cooperation. The agreements signed today in the areas of transportation, mobility and infrastructure will further strengthen this partnership, he said.

The Prime Minister invited Swiss infrastructure companies to invest in India and participate in capacity building, design and manufacturing.

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Hindusthan Samachar / Jun Sarkar