India and Switzerland today inked five agreements following bilateral talks between Prime Minister Narendra Modi and Swiss President Guy Parmelin in New Delhi.

These agreements are on Migration and Mobility Partnership, Exchange of Young Professionals, Promotion and Collaboration on Transportation Technologies, Mobility Systems and Infrastructure in Identified Areas, Letter of Intent between Department of Science and Technology and Swiss National Science Foundation and Implementation Arrangement for cooperation in Innovation, Technology Transfer and Entrepreneurship. 

In a joint press meet, Prime Minister Modi appreciated Swiss President Guy Parmelin’s commitment to India-Switzerland relations. He said that India implemented the historic Trade and Economic Partnership Agreement with the European Free Trade Association, EFTA, countries last October.

Mr Modi noted that the agreement was India’s first Free Trade Agreement with a European economic bloc. He described it as an ambitious framework for investment, innovation, employment and shared prosperity. The Prime Minister highlighted that under the agreement, India aims to attract 100 billion US dollars in investment and create ten lakh direct jobs over the next 15 years.

Prime Minister Modi said that India and Switzerland have taken several important decisions to enhance market access for Indian exports in Switzerland and further facilitate investment between the two countries. He said, this will increase exports of Indian agricultural products, pharmaceuticals, textiles and engineering goods to Switzerland.