India and Switzerland have entered into five new agreements aimed at increasing bilateral cooperation in various sectors, including trade, technology, and mobility. The agreements were signed during a meeting between Indian Prime Minister Narendra Modi and Swiss President Guy Parmelin, with a focus on expanding ties in defence, nuclear energy, and investment.
The new accords cover several important areas such as migration and mobility, young professionals, transportation, research, innovation, and technology transfer. Notably, the agreements are expected to enhance market access for Indian exports and foster greater investment between the two nations. This meeting coincided with Switzerland celebrating the first anniversary of the India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement, which aims to boost trade, investment, and employment between India and the four EFTA countries.
Under the migration and mobility partnership, both countries aim to combat irregular migration and human trafficking while facilitating easier movement of people. This includes provisions for multiple-entry visas valid for up to five years and renewable permits for students. Another agreement focuses on the exchange of young professionals, allowing up to 300 individuals from each country to work temporarily and gain professional and language experience annually.
In the realm of defence and energy, India and Switzerland have decided to explore increased cooperation in military exchanges, defence production, and nuclear energy. The two countries are also set to embark on joint research projects focusing on health, clean energy, and space. Furthermore, they plan to collaborate on advancements in transportation technologies, sustainable infrastructure, electric vehicles, and other mobility systems.
The agreements are anticipated to strengthen collaboration between research institutions, businesses, and technology companies in both countries. Discussions also touched upon global and regional issues, including the conflicts in Ukraine and West Asia, with both leaders emphasizing the importance of dialogue and diplomatic efforts to promote peace and stability.