Manufacturing And Innovation Partnerships Under TEPA Framework: India and Switzerland Eye Enhanced Collaboration

Mumbai, June 10, 2025: India’s Commerce and Industry Minister, Shri Piyush Goyal, on June 9, 2025, in Bern, intensified India’s outreach to businesses in Switzerland, extending an invitation to expand their operations within India and collaboratively establish global value chains, all under the India–EFTA Trade and Economic Partnership Agreement (TEPA).

Strategic Bilateral Advancement through TEPA

The Minister’s discussions with prominent Swiss industrial executives concentrated on deepening economic ties following the recently signed TEPA between India and the European Free Trade Association. Mr. Goyal underscored the complementary strengths of both economies, emphasising prospects in fields such as biotech, pharma, defence, healthcare, precision engineering, and nascent technologies.

Roundtables to Bolster Sectoral Alliances

Shri Goyal presided over two industry-specific roundtables, supported by the Indian Embassy in Switzerland. These roundtables highlighted India’s innovation environment, cost efficiencies, and skilled workforce. Participants demonstrated keen interest in:

• Joint ventures and technology transfer
• Manufacturing localization
• R&D collaboration in high-growth sectors, including cancer therapies, automation, fibre optics, and cybersecurity.

India as a Crucial Global Centre

The Minister presented India as more than just a consumer market, urging Swiss enterprises to perceive it as a vital hub for manufacturing, talent, and innovation. He reaffirmed India’s dedication to regulatory alignment, mutual recognition agreements, and bolstering the intellectual property regime.

“Swiss industry leaders view India not merely as a substantial market but as a launchpad for global competitiveness,” Goyal remarked during the conversations.

EFTA Desk and ICAI Participation

To facilitate smoother Swiss investments, Mr. Goyal encouraged businesses to connect with the specialised EFTA Desk at Invest India. He also met with the Switzerland Chapter of the Institute of Chartered Accountants of India (ICAI), commending their role in strengthening business synergies between India and Switzerland.

Swiss Industry’s Response: Confidence and Dedication

Swiss companies conveyed a strong belief in India’s long-term growth trajectory. Several firms highlighted intentions to broaden their Indian operations, localise production, and forge partnerships with domestic entities. Many characterised India as a “natural partner” and pledged to contribute to its forthcoming growth phase.

Regarding the Interaction

This high-level exchange represents a significant milestone post-TEPA, emphasising India’s drive to establish itself as a manufacturing and innovation hub in global supply chains, with Swiss companies positioned as key collaborators.

Why Now? Timing and Core Commitments of TEPA

The intensified engagement is driven by the India-EFTA TEPA, signed on March 10, 2024, and is expected to activate by September 2025. This proactive visit capitalises on the agreement’s momentum.

A core TEPA detail is EFTA’s binding commitment to invest USD 100 billion in India over 15 years, aiming to create 1 million direct jobs. This commitment is a key driver for India’s outreach and facilitation efforts, including the EFTA Desk at Invest India.

Mutual Benefits and Strategic Alignment

Both sides benefit from TEPA. For India, it offers access to advanced Swiss technologies, precision engineering, and high-value manufacturing, boosting “Make in India” and providing an export gateway.

For Switzerland and EFTA, India presents a vast, growing market of 1.4+ billion people, a skilled workforce, and a strategic base for broader Asian market access. This alignment fosters investment and strategic collaboration, as exemplified by Swiss companies like ABB significantly expanding in India.

REF:https://www.pib.gov.in/PressReleaseIframePage.aspx?PRID=2135293

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