India, Switzerland widen defence, nuclear energy ties

Prime Minister Narendra Modi and Swiss President Guy Parmelin met at Hyderabad House in New Delhi on Monday and agreed to widen the India-Switzerland partnership into defence production and nuclear energy.The two leaders signed five agreements, covering migration and mobility, young professionals, transport technologies, mobility systems and infrastructure development. They also agreed to deepen defence cooperation, including military exchanges and defence production, as well as cooperation in nuclear energy.Trade and investment formed the core of the talks. Modi described the India-EFTA Trade and Economic Partnership Agreement, or TEPA, as an ambitious blueprint for investment, innovation and jobs. The deal commits EFTA states to invest 100 billion dollars in India over 15 years and create one million direct jobs.Parmelin is on a three-day state visit, his first to India. Over 330 Swiss companies operate in India in engineering, services, precision instruments, chemicals and pharmaceuticals. The leaders also agreed to expand market access for Indian exports to Switzerland and to pursue an investment protection agreement.
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