Switzerland has close economic ties with India, with a bilateral trade volume of CHF 30.8 billion in 2021. This makes the country Switzerland's second most important trading partner in Asia. The size of the Indian market and the country’s exceptional know-how in a diverse range of high-tech sectors provide numerous cooperation and development possibilities for Swiss companies. Switzerland is also an important investor in India: more than 330 Swiss companies are active there through local offices or joint ventures, investing CHF 7.3 billion by the end of 2021.
Against this background, Switzerland is seeking a comprehensive free trade agreement with India within the framework of EFTA. The negotiations concerned began in 2008 and were nearing completion by the end of 2013, but were ultimately unsuccessful. After several years with no further negotiation rounds, contact between EFTA and India has once again intensified. A future agreement should increase legal certainty, promote sustainable development and ensure that the Swiss export industry has the most non-discriminatory access possible to the Indian market.
This year marks the 75th anniversary of diplomatic relations between Switzerland and India, and is also the year that India holds the G20 presidency. In connection with this role, India has invited Switzerland to participate in the Finance Track and to cooperate in the Sherpa Track’s Anti-Corruption and Health Working Groups.
The EFTA Parliamentary Committee regularly visits third countries with which EFTA is negotiating the conclusion or renewal of a free trade agreement. The talks in Delhi and Mumbai are intended to provide an opportunity for the parliamentarians from the four EFTA States to obtain first-hand information on India's positions in these negotiations and to reaffirm at parliamentary level the EFTA states' interest in a comprehensive, ambitious agreement.
The working visit's agenda includes meetings with the lower and upper houses of the Indian parliament; the ministries of external affairs and commerce and industry; civil society organisations; trade associations and labour unions. The EFTA parliamentarians will also use some of their time in Mumbai to hold discussions with representatives of companies from EFTA countries.
The EFTA/EU Delegation will be represented on this working visit by its President, Council of States member Benedikt Würth (The Centre, SG), its Vice President, National Council member Thomas Aeschi (SVP, ZG), and the two National Council members Eric Nussbaumer (SP, BL) and Hans-Peter Portmann (FDP, ZH).