India, Switzerland deepen trade and investment ties under TEPA

Union Commerce and Industry Minister Piyush Goyal on Friday said India and Switzerland have reaffirmed their long standing economic partnership, with both countries agreeing to deepen trade, investment and strategic cooperation under the India EFTA Trade and Economic Partnership Agreement, or TEPA. The remarks came after Goyal met Guy Parmelin, President of the Swiss Confederation, as India continues efforts to expand economic ties with developed markets through free trade agreements.
Goyal described the interaction as an "excellent meeting" and said both sides reviewed avenues to strengthen bilateral economic engagement through the TEPA framework..“An excellent meeting with Guy Parmelin, President of the Swiss Confederation,” Goyal wrote in a post on X. He said the discussions reaffirmed the strong partnership between the two countries and reflected a shared commitment to increasing investment flows and advancing strategic cooperation.

An excellent meeting with Mr. Guy Parmelin, President of the Swiss Confederation.

Our discussions reaffirmed the strong and enduring partnership between India and Switzerland, with a shared commitment to further strengthening economic engagement, investment flows, and strategic… pic.twitter.com/R6RUDJqLAy

— Piyush Goyal (@PiyushGoyal) June 12, 2026

The meeting assumes significance at a time when New Delhi is placing greater emphasis on trade agreements as a tool to attract capital, improve competitiveness and expand access to international markets. 
Earlier this week, Goyal said India’s free trade agreements are aimed at supporting long term economic growth by boosting global engagement, encouraging investment, promoting innovation, raising quality standards and creating jobs. He identified the agreement with the European Free Trade Association as one of the key pillars of this approach.
The TEPA links India with the four EFTA member countries, Switzerland, Norway, Liechtenstein and Iceland.According to the minister, EFTA countries have committed to invest 100 billion dollars in India over a period of 15 years under the agreement. The pact is also expected to support the creation of one million direct jobs. 
Goyal said India is currently in the second year of implementing the agreement and discussions on potential investment projects are moving ahead actively. He has repeatedly described the investment commitment as one of the most significant features of the pact, arguing that it creates a balanced framework for both India and partner countries while helping integrate the Indian economy more closely with global trade and value chains.

(Business Correspondent)