India, Switzerland Sign Five Pacts; Deepen Defence, Nuclear Ties
India and Switzerland signed five agreements on October 5 after talks between Prime Minister Narendra Modi and Swiss President Guy Parmelin in New Delhi. The pacts cover migration and mobility, young professionals, transport, infrastructure and health research.
The leaders agreed to deepen cooperation in defence production and military exchanges, and to expand collaboration in nuclear energy. Modi said the two sides identified new possibilities for cooperation in these areas. The migration pact offers multiple-entry visas of up to five years for Indian professionals.
The partnership builds on the India-EFTA Trade and Economic Partnership Agreement. The two sides aim to facilitate 100 billion dollars in Swiss investment in India and create one million direct jobs over 15 years. Swiss companies are expected to invest in biotechnology, life sciences, banking, food processing and sustainability.
This was Parmelin’s second visit to India this year after attending the AI Impact Summit in February. The Swiss President was accorded a ceremonial welcome at Rashtrapati Bhavan and met President Droupadi Murmu during the three-day state visit.
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