Swiss President Guy Parmelin opened a three-day state visit to India on a confident note, declaring that Swiss businesses now regard India as a “serious long-term partner” rather than merely a commercial opportunity. His remarks mark a milestone in growing India–Switzerland ties just one year after the Trade and Economic Partnership Agreement (TEPA) came into force in October 2025.
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## Growing Momentum Under TEPA
Parmelin said Swiss firms are actively investing—or planning investments—across multiple sectors: transport and logistics; financial services; manufacturing; pharmaceuticals and biotechnology; plus technology and electronics. “What I find encouraging is how broad that list is. It tells me that Swiss businesses see India as a serious long-term partner, not just a market for one or two industries,” he told NDTV.
While it’s still early days for the TEPA’s impact to be fully measured—since tariff reductions will roll out gradually over time—Parmelin projected that the agreement will “give a significant boost to trade between Switzerland and India in the years ahead.”
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## State Visit Highlights
Arriving in New Delhi on Monday, Parmelin received a ceremonial welcome at Rashtrapati Bhavan and engaged in discussions with Prime Minister Narendra Modi. Their talks focused on trade, investment, innovation, technology, and mobility—domains where both nations aim to deepen collaboration.
## Switzerland and India Setting Tech Priorities Together
In February, India hosted the AI Impact Summit. Switzerland, gearing up to host the next global summit in Geneva in 2027, sees India as a pivotal partner in shaping the global AI agenda. Parmelin commended India for elevating the voices of underrepresented countries in tech dialogue, especially in the Global South.
He also outlined Switzerland’s commitment to international collaboration: through the International Computation and AI Network (ICAIN), which aims to ensure technology’s gains are shared widely. India is expected to play a key role in future Geneva-driven efforts under this initiative.
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## Joint Action on Terror Financing
Parmelin reiterated Switzerland’s solidarity with international efforts to combat terrorism financing. “Switzerland attaches great importance to the integrity of both the Swiss and the international financial systems,” he stated.
He emphasized compliance with global standards—namely those of the Financial Action Task Force (FATF)—while also battling illicit financing via virtual assets and underground banking. Bilateral cooperation and joint work with private and public sectors feature prominently in Switzerland’s approach.
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## Easing Migration and Mobility
Addressing concerns raised by Indian professionals and students, Parmelin highlighted two recent agreements: the Migration and Mobility Partnership and the Young Professionals Agreement. These are designed to streamline legal migration, simplify mobility, and boost cooperation on return and readmission policies.
Under separate regulations for work permits, India receives between 1,500 and 1,900 permits annually. Parmelin noted that nearly 19,000 Indian nationals currently reside in Switzerland, contributing to its societal, economic, and cultural fabric.
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## Financial Integrity and Tax Transparency
Parmelin reaffirmed Switzerland’s collaboration with India on financial transparency. Since 2019, the automatic exchange of financial account information between the two countries has been functioning smoothly. Exchanges on request are also proceeding well.
Looking ahead, Switzerland plans to extend transparency efforts to crypto-assets while continuing with tax cooperation. Parmelin described India as a crucial partner and expressed appreciation for its consistent engagement with Swiss authorities.
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## Why This Matters
– Trade relations are deepening beyond traditional sectors, signaling Switzerland’s broader confidence in India as a multi-sectoral partner.
– TEPA is already framing future expectations, with tariff reductions phased in over time likely to expand bilateral commerce.
– Collaboration in AI and technology shows mutual alignment on global challenges and inclusion, particularly for developing nations.
– Switzerland’s commitments on terror financing, legal migration, and tax transparency address longstanding international concerns that matter to India.
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In sum, President Parmelin’s state visit underscores a widening trust and shared vision between India and Switzerland. From trade and tech to security and financial ethics, both countries are actively forging stronger ties rooted in mutual respect and long-term goals.
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