New Delhi, May 8: India is stepping up efforts to deepen its economic partnership with Switzerland, as Commerce Secretary Rajesh Agarwal visited the country this week to fast-track the India–EFTA Trade and Economic Partnership Agreement (TEPA).
The two-day visit will focus on making the agreement work on the ground for businesses, investors and industries in both countries.
Turning Agreements into Real Opportunities
In meetings with Helene Budliger Artieda, both sides reviewed how TEPA is progressing and where more can be done. The focus was practical: easing trade rules, reducing barriers, and helping companies collaborate more easily across borders and move beyond paperwork and ensure businesses actually benefit.
A Platform for Global Dialogue
Coomerce Secretary Rajesh Agarwal also took part in the St. Gallen Symposium, engaging with global leaders and industry voices. In a session on “200 Days of TEPA,” discussions centred on early lessons from the agreement and how it can be scaled further.
India’s Bigger Trade Strategy
India’s trade push is part of a broader strategy led by Narendra Modi, with Commerce Minister Piyush Goyal noting that India has already signed multiple free trade agreements with developed economies.
The goal: open more doors for Indian businesses—from manufacturers and startups to farmers and service providers.
Why TEPA Matters
The agreement with the European Free Trade Association is a milestone. It’s India’s first deal with this group of European economies and gives Indian products a stronger entry into European markets—with Switzerland acting as a key gateway.
For businesses, this means easier access, fewer tariffs, and more room to grow internationally.
Trade Numbers Tell the Story
The partnership is already showing momentum:
- India exported over USD 1.2 billion worth of goods to Switzerland in FY 2025–26
- Services exports reached USD 6.88 billion, creating a strong surplus
With EFTA offering access on most tariff lines, Indian exporters are likely to see even more opportunities ahead.
Where Investment Is Headed
A major part of the visit focused on attracting Swiss investment into India. At a business roundtable, discussions revolved around sectors with high growth potential:
- Pharmaceuticals and biotech
- Engineering and advanced manufacturing
- Clean energy and medical technology
The idea is simple: combine Swiss precision and capital with India’s scale and market demand.
Bottom line: India is not just signing trade agreements—it is actively working to make them deliver real business value. The Switzerland visit signals a clear intent to turn TEPA into a driver of trade, investment, and long-term economic collaboration.
