FIEO welcomes Swiss President’s State Visit to India; Sees New Opportunities for Trade and Investment under India–EFTA TEPA

New Delhi, October 5, 2026: The Federation of Indian Export Organisations (FIEO) has welcomed the State Visit of President of the Swiss Confederation, Guy Parmelin, to India from October 5–7, describing the visit as an important opportunity to further strengthen India–Switzerland economic relations and deepen trade and investment cooperation.
President Parmelin is visiting India at the invitation of Prime Minister Narendra Modi and is accompanied by a high-level delegation comprising senior officials and business leaders. The visit assumes particular significance as it coincides with the 2nd India–EFTA Prosperity Summit on October 7, marking the first anniversary of the India–EFTA Trade and Economic Partnership Agreement (TEPA) coming into force.
Commenting on the visit, S C Ralhan, President, FIEO, said: “The State Visit of President Guy Parmelin comes at an opportune moment as India and EFTA complete the first year of the India–EFTA Trade and Economic Partnership Agreement. Switzerland, being India’s largest trade and investment partner among the EFTA countries, has a pivotal role in translating the opportunities created by TEPA into greater two-way trade, investment and technology partnerships. The visit provides fresh momentum to business-to-business engagement and open new avenues for Indian exporters in the Swiss and wider European markets.”
He further said that the implementation of TEPA provides a stronger institutional framework for Indian businesses to expand their presence in EFTA markets, while Swiss companies can benefit from India's rapidly expanding domestic market, manufacturing capabilities and growing global value-chain integration. Ralhan added that “India’s competitive strengths in engineering goods, pharmaceuticals, textiles and apparel, chemicals, processed foods, gems and jewellery, IT and professional services can complement Switzerland’s strengths in advanced manufacturing, precision engineering, pharmaceuticals, financial services, technology and innovation.”
The two countries share longstanding friendly relations, with regular high-level exchanges contributing to cooperation across diverse areas. And therefore, “TEPA offers a major opportunity for India to diversify and expand its exports to the high-value EFTA markets. With tariff concessions covering 99.6% of India’s exports to EFTA, Indian exporters in pharmaceuticals, organic chemicals, textiles, machinery and other sectors can significantly strengthen their market presence”, reiterated Ralhan.
He added that the US$100 billion investment commitment and the potential to generate one million direct jobs over 15 years can provide a strong foundation for technology transfer, manufacturing partnerships and integration with global value chains. At the same time, India must focus on improving utilisation of TEPA by MSMEs and addressing the trade imbalance through greater export penetration.”
FIEO believes that this high-level engagement will further provide impetus to India's export ambitions by facilitating greater interaction between Indian and Swiss businesses and encouraging partnerships in emerging and high-value sectors. The 2nd India–EFTA Prosperity Summit, scheduled for October 7, assumes special importance as it marks one year of the implementation of TEPA between India and the European Free Trade Association (EFTA), comprising Switzerland, Norway, Iceland and Liechtenstein. Mr Ralhan further said that the upcoming India–EFTA Prosperity Summit should give renewed impetus to industry-to-industry engagement and identify practical measures to convert the commitments under TEPA into higher exports, investment and sustainable business partnerships.”
He emphasised that improved awareness of preferential market access and greater utilisation of trade agreements would be critical for Indian exporters, particularly MSMEs, to take advantage of the opportunities emerging in developed and high-value markets. The FIEO President also highlighted the potential for cooperation beyond traditional merchandise trade, including technology, innovation, research and development, financial services, digital solutions, sustainability and professional services.
FIEO looks forward to continued efforts by both countries to strengthen the India–Switzerland economic partnership and to ensuring that the opportunities emerging from TEPA translate into greater exports, investment, technology collaboration and sustainable business partnerships.