Archive · 5 Oct 2026
Modi Links India-EFTA Pact to Investment and Jobs
India and Switzerland want to work more closely together.
Prime Minister Narendra Modi met Swiss President Guy Parmelin in New Delhi.
Modi said a trade agreement between India and a group of European countries could help bring $100 billion in investment to India over 15 years.
He said the plan could also create 10 lakh direct jobs.
The countries want to make it easier for Indian goods, such as medicines and textiles, to reach Switzerland.
They also discussed Swiss investment in several Indian industries.
Agreements on mobility are intended to create more opportunities for Indian students, researchers and professionals in Switzerland.
The leaders also talked about technology, defence, energy and working together on international issues.
Narendra Modi said the India-EFTA trade agreement is expected to bring $100 billion in investment and create 10 lakh direct jobs in India over 15 years.
Modi made the remarks after talks with Swiss President Guy Parmelin at Hyderabad House in New Delhi.
The India-EFTA Trade and Economic Partnership Agreement came into force on October 1, 2025, according to one report.
The leaders discussed expanded market access for Indian exports and greater Swiss investment in sectors including biotechnology, banking and food processing.
They also discussed mobility, defence, nuclear energy, technology, global conflicts and reform of international institutions.
- Who
- Indian Prime Minister Narendra Modi and Swiss President Guy Parmelin.
- What
- They discussed bilateral cooperation, including the India-EFTA agreement's expected investment and jobs, as well as trade, mobility and technology.
- When
- Monday; Parmelin was on a three-day state visit. One report identifies the date as October 5, 2026.
- Where
- Hyderabad House, New Delhi.
- Why
- To deepen India-Switzerland cooperation and advance trade, investment, jobs and other shared priorities.
- Investment target
- $100 billion over 15 years, as described by Modi in reference to the India-EFTA agreement
- Jobs target
- 10 lakh direct jobs in India over 15 years
- Agreement
- India-European Free Trade Association Trade and Economic Partnership Agreement (TEPA)
- TEPA effective date
- October 1, 2025
- EFTA members
- Iceland, Liechtenstein, Norway and Switzerland
- Indian export sectors mentioned
- Agriculture, pharmaceuticals, textiles and engineering goods
- Potential Swiss investment sectors mentioned
- Biotechnology, life sciences, banking, insurance, food processing and sustainability
- Planned summit
- India-EFTA Business Leaders Prosperity Summit, scheduled for October 7
