PM Modi Highlights $100 Billion Investment Target Under India-EFTA TEPA

Prime Minister Narendra Modi said India and Switzerland share a commitment to democratic values, the rule of law, dialogue and diplomacy. He said both countries will continue working together for global peace and stability.

Addressing a joint press meet with Swiss President Guy Parmelin after their talks at Hyderabad House in New Delhi, PM Modi said both nations consider reforms in global institutions essential to tackling growing challenges.

“Be it Ukraine or West Asia, India has consistently supported every meaningful effort towards peace,” Prime Minister Modi said.

Welcoming Parmelin, the Prime Minister highlighted the India-EFTA Trade and Economic Partnership Agreement (TEPA).

India signed the pact with European Free Trade Association countries. He said it will attract $100 billion in investment and create 1 million direct jobs in India over 15 years.

Prime Minister Modi described India-Switzerland ties as ‘centuries-old’ and recalled the historical connections involving Swami Vivekananda and Mahatma Gandhi. He said innovation, infrastructure and advanced technology have emerged as key pillars of bilateral cooperation.

The two leaders discussed military exchanges, defence production and cooperation in nuclear energy.

PM Modi said India and Switzerland had taken decisions to improve market access for Indian agricultural, pharmaceutical, textile and engineering exports.

India will seek Swiss investment in sectors including biotechnology, life sciences, banking, insurance, food processing and sustainability.

PM Modi called people-to-people ties the ‘greatest strength’ of the partnership. He said the Migration and Mobility Partnership Agreement and Young Professionals Agreement would create new opportunities for Indian students, researchers, professionals and youth in Switzerland.

Also Read: ‘India, Switzerland Believe In Dialogue And Diplomacy’: PM Modi On Global Peace