Swiss businesses see India as a “serious long-term partner”, Switzerland President Guy Parmelin said, adding that he expects the India-European Free Trade Association (EFTA) trade pact to give bilateral trade a “significant boost” in the years ahead.
He landed in New Delhi on Monday, received a ceremonial welcome at Rashtrapati Bhavan and sat down for talks with Prime Minister Narendra Modi. Parmelin spoke to NDTV as he began a three-day state visit. Trade, investment, technology, innovation and mobility topped the agenda. Serious Long-Term Partner Swiss companies have already invested, or plan to, across transport and logistics, financial services, manufacturing, pharmaceuticals and biotechnology, and technology and electronics. “What I find encouraging is how broad that list is. Still, he didn’t hold back on what he expects. AI: Switzerland Wants To Build On India’s Summit
Because tariff cuts will be phased in over the coming years, it’s too early to judge TEPA’s full impact, he cautioned,. India and the EFTA, which includes Switzerland, are marking one year of the Trade and Economic Partnership Agreement (TEPA), which came into force in October 2025.
He said the ties are “going from strength to strength”. It tells me that Swiss businesses see India as a serious long-term partner, not just a market for one or two industries,” Parmelin said. “I expect TEPA to give a significant boost to trade between Switzerland and India in the years ahead,” he said.
Parmelin was in New Delhi in February for the AI Impact Summit. He also credited India with making sure poorer and developing countries get heard on technology. Switzerland plans to carry that approach forward through the International Computation and AI Network (ICAIN). The network pushes for a fairer spread of technology’s benefits and encourages AI research and knowledge sharing across regions. Switzerland also acts against terror financing that runs through virtual assets and underground banking, working with international partners and the private sector. Parmelin pointed to two new agreements: the Migration and Mobility Partnership and the Young Professionals Agreement. They should make legal migration and mobility easier, he added, and strengthen cooperation on return and readmission. Indian nationals fall under a separate work-permit system in Switzerland. Swiss Banks, Black Money And Information Sharing India has spent years trying to trace undeclared wealth, and Swiss banks have been central to that effort.
Switzerland hosts the next global AI summit in Geneva in 2027, and he said his meeting with PM Modi confirmed that the two countries want much the same things. 1,500 To 1,900 Work Permits For Indians Every Year Indian professionals and students have complained about visa and work-permit curbs. Even so, Parmelin said, about 1,500 to 1,900 permits go to Indians every year.
“As we prepare to host the next summit in Geneva in 2027, India is a key partner for us,” he said. “India has demonstrated exceptional leadership in amplifying the voices of those who are underrepresented in global technology discussions, particularly those from the Global South,” the Swiss President said. Parmelin said Switzerland looks forward to India taking part in Geneva. On Terror Financing: “Firmly Committed” India has long raised concerns about cross-border terrorism and how it’s funded. Parmelin said Switzerland stands with the international effort against it. “Switzerland attaches great importance to the integrity of both the Swiss and the international financial systems,” he said. The country is “firmly committed to contributing to collective efforts to counter the financing of terrorism”, he added, and to applying international standards such as the Financial Action Task Force (FATF) recommendations. “These agreements mark an important milestone in our bilateral cooperation,” he said. “Today, around 19,000 Indian nationals live in Switzerland, making an important contribution to our societies, economies and bilateral relations,” he said. Parmelin said the system is working. “The automatic exchange of financial account information between Switzerland and India has been running smoothly since the first exchange took place in 2019,” he said. Exchange of information on request is also “working well”. “India is an important partner for Switzerland, and we value the good cooperation with the Indian authorities,” he said. Switzerland will keep talking to India and other partners on tax information exchange, he said, including the coming automatic exchange of information on crypto-assets.
