In a bid to deepen industrial collaboration between India and Switzerland, Commerce and Industry Minister Piyush Goyal co-chaired a high-level business roundtable on the Machinery, Electrical, and Metal (MEM) sectors in Berne on Tuesday. His Swiss counterpart, Federal Councillor Guy Parmelin, joined him in leading the discussions that focused on driving innovation, building workforce capabilities, and opening new avenues for investment between the two nations.
Among the key participants was Mr. Rajan Bharti Mittal, Past President of FICCI, who underscored India’s strength as a long-term economic partner. Emphasizing the country’s robust governance, inclusive growth trajectory, and reform-driven business environment, Mr. Mittal invited Swiss businesses to explore strategic partnerships in India’s thriving manufacturing and technology landscape. He described India as a land of opportunity, especially for companies seeking sustainable and forward-looking growth.
Minister Goyal, during the dialogue, highlighted the importance of leveraging the India-EFTA Trade and Economic Partnership Agreement (TEPA), which recently came into force. He stressed how this agreement paves the way for unlocking new investment channels, promoting joint ventures, and encouraging regulatory alignment between India and Switzerland.
As part of his visit, Goyal also led focused roundtable discussions with Swiss industry leaders from biotechnology, pharmaceuticals, precision engineering, defence, and healthcare sectors. These sessions spotlighted India’s scale, affordability, and rapidly growing innovation ecosystem, offering a compelling case for increased collaboration.
To support such bilateral efforts, the minister urged Swiss firms to connect with the EFTA Desk at Invest India, which offers tailored facilitation and guidance for foreign investors. He further reiterated India’s readiness to work on mutual recognition agreements and regulatory harmonisation to ease cross-border operations.
A major milestone of the visit was the signing of a Memorandum of Understanding (MoU) between Indian industry body ASSOCHAM and Swissmem, Switzerland’s leading association for the MEM industries. This MoU aims to foster cooperation in technology transfer, joint skill development, policy exchange, and participation in trade fairs and exhibitions. It also includes a framework to promote trade missions and economic partnerships that benefit members on both sides.
Before concluding his engagements, Minister Goyal also met members of the Switzerland Chapter of the Institute of Chartered Accountants of India (ICAI). He commended their role in strengthening India’s global business image and praised their contributions toward a more connected India-Switzerland economic corridor.
