Commerce Secretary Rajesh Agarwal visited Switzerland from May 6-7 to boost the India-European Free Trade Association Trade and Economic Partnership Agreement. During the trip, he met with Helene Budliger Artieda, State Secretary of the Swiss State Secretariat for Economic Affairs. Discussions aimed at expanding trade, strengthening regulatory cooperation, and fostering business ties were held.
Agarwal also participated in the 55th St Gallen Symposium on May 6, attending a session on the Swiss-Indian Trade Agreement. India, under PM Modi’s leadership, has sealed nine Free Trade Agreements with 38 developed nations, providing new avenues for various sectors. The Trade and Economic Partnership Agreement with Switzerland is a significant step in India’s trade strategy, marking its first pact with the European Free Trade Association economies.
This agreement is anticipated to facilitate the integration of Make in India products into European value chains, utilizing Switzerland as a key market. Notably, the European Free Trade Association has granted enhanced market access on 92.2% of its tariff lines, covering a vast majority of India’s exports. India’s exports to Switzerland surpassed USD 1.2 billion in FY 2025–26, with services exports amounting to USD 6.884 billion in 2024, resulting in a services trade surplus of USD 4.255 billion.
Furthermore, Agarwal engaged in a high-level Business Roundtable with Swiss industry leaders, focusing on investment and economic cooperation opportunities under the Trade and Economic Partnership Agreement. The visit emphasized attracting Swiss investments in sectors like pharmaceuticals, biotechnology, clean energy, and advanced manufacturing.
