Union Commerce and Industry Minister Piyush Goyal wrapped up a productive two-day visit to Switzerland on June 9-10, and began official engagements in Sweden on Wednesday, reinforcing India’s strategic economic partnerships with both nations.
“The Switzerland leg of the visit focused on advancing India–Switzerland economic cooperation and operationalising the Trade and Economic Partnership Agreement (TEPA) signed earlier this year between India and the European Free Trade Association (EFTA),” the Commerce Ministry said in a statement.
During the visit, Goyal held high-level talks with Swiss leaders, including Federal Councillor Guy Parmelin, Head of the Federal Department of Economic Affairs, Education, and Research, and State Secretary Helene Budliger Artieda. The discussions focused on a roadmap for TEPA implementation, prioritizing regulatory cooperation, skill development, and innovation to enhance trade and investment.
In Zurich, Goyal addressed over 1,000 European industry leaders at the 18th Swissmem Industry Day. He invited Swiss firms, including SMEs and deep-tech innovators, to invest in India, highlighting India’s demographic dividend, engineering talent, and robust supply chains. He positioned India as a global hub for manufacturing and R&D.
Engagements with Swiss industries covered biotech, pharma, precision engineering, defense, and emerging technologies. Goyal emphasized India’s stable policies and infrastructure growth, urging firms to establish local manufacturing and co-develop technologies for the Global South. A standout outcome was the rapid resolution of a land availability issue for Endress+Hauser in Maharashtra, resolved within hours through coordinated efforts, earning praise as a model of responsive governance.
Accompanied by representatives from ASSOCHAM, CII, and FICCI, Goyal underscored India’s whole-of-government approach. He also met the Switzerland Chapter of the Institute of Chartered Accountants of India, commending their role in elevating India’s global financial reputation.
In Sweden, Goyal is set to co-chair the 21st Indo-Swedish Joint Commission for Economic, Industrial, and Scientific Cooperation (JCEISC) with Benjamin Dousa, Sweden’s Minister for International Development Cooperation and Foreign Trade. The session aims to deepen ties in advanced manufacturing, green technologies, and sustainable solutions.
Bilateral meetings with Dousa and Håkan Jevrell, State Secretary for Development Cooperation and Foreign Trade, alongside an India-Sweden Business Leaders’ Round Table, focus on expanding partnerships with companies like Ericsson, Volvo Group, IKEA, Sandvik, Alfa Laval, and SAAB. Goyal will also engage with the Indian diaspora and media to strengthen people-to-people ties and promote the India-Sweden vision.
Reflecting on his Switzerland visit, Goyal in a post on X, wrote, “Wrapping up a successful two-day visit to the beautiful city of Bern, 🇨🇭 with warmth, fond memories & new partnerships. Highly impressed with the curiosity, interest, and trust of industry leaders in India’s growth story. Exciting opportunities lie ahead.”