Union Commerce and Industry Minister Piyush Goyal concluded a two-day official visit to Switzerland from June 9 to 10, and has commenced the Sweden leg of his European tour aimed at strengthening economic ties and fostering innovation-driven partnerships.
The Switzerland 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). Goyal held high-level meetings with Swiss government officials and industry leaders to chart a roadmap for TEPA implementation and explore new opportunities for trade and investment.
During the visit, Goyal met with Federal Councillor Guy Parmelin, Head of the Federal Department of Economic Affairs, Education and Research, and State Secretary Helene Budliger Artieda. Discussions centred on regulatory cooperation, skills development, innovation partnerships, and measures to facilitate faster investment decision-making.
The minister also engaged with Swiss industry leaders across sectors including biotechnology, pharmaceuticals, healthcare, precision engineering, defence, and emerging technologies. In sectoral roundtables and bilateral meetings, Goyal highlighted India’s growing economic strength, policy stability, infrastructure expansion, and the government’s efforts to create a conducive ecosystem for global investors. Swiss companies welcomed India’s expanding domestic market and policy reforms, viewing the country as a key destination for growth and manufacturing.
A key highlight was Goyal’s participation at the 18th Swissmem Industry Day held in Zurich, attended by over 1,000 delegates representing Switzerland’s mechanical, electrical, and metal industries. In his keynote address, the minister invited Swiss companies, including SMEs and deep-tech innovators, to scale up investments in India by leveraging TEPA. He emphasised India’s demographic advantage, engineering talent, and robust supply chains, encouraging Swiss industry to anchor research and development, establish manufacturing bases, and co-create technologies for emerging markets.
An immediate outcome of the visit was the swift resolution of a facilitation request from Endress+Hauser, a global process automation firm with a presence in India. The company had raised concerns about land availability near its Maharashtra facility. The issue was resolved within hours through coordinated efforts by the minister and Indian authorities, demonstrating the government’s commitment to investor-friendly governance.
Goyal also held one-on-one meetings with several Swiss companies exploring expansion strategies, localisation, talent development, and MSME linkages. Interest was especially strong in sectors such as advanced manufacturing, industrial automation, clean technology, and healthcare innovation.
The minister was accompanied by a high-level delegation from Indian industry bodies including ASSOCHAM, CII, and FICCI, reflecting a whole-of-government and whole-of-industry approach to economic diplomacy. In a meeting with the Switzerland chapter of the Institute of Chartered Accountants of India, Goyal appreciated their contribution to enhancing India’s reputation for financial excellence.
The visit concluded on a note of shared optimism, with Swiss stakeholders reaffirming confidence in India’s rise as a global economic powerhouse and welcoming the government’s collaborative and reform-oriented approach.
Moving on to Sweden, Goyal will co-chair the 21st session of the Indo-Swedish Joint Commission for Economic, Industrial and Scientific Cooperation with Sweden’s Minister for International Development Cooperation and Foreign Trade, Benjamin Dousa.
He is also scheduled to hold bilateral meetings with Benjamin Dousa and Håkan Jevrell, State Secretary to the Minister of Development Cooperation and Foreign Trade. These discussions aim to reinforce the strong economic relationship and identify new opportunities aligned with India’s long-term economic objectives.
Key engagements will include an India-Sweden business leaders’ round table and meetings with leading Swedish companies such as Ericsson, Volvo Group, IKEA, Sandvik, Alfa Laval, and SAAB. The discussions will focus on sectors where Sweden excels, including advanced manufacturing, green technologies, and sustainable solutions.
Goyal will also meet members of the Indian diaspora and address media interactions to strengthen people-to-people ties and communicate India’s vision for the bilateral partnership.