Commerce Secretary Rajesh Agarwal travelled to Switzerland from May 6 to 7 May 2026, to advance implementation of the India–EFTA Trade and Economic Partnership Agreement and to strengthen trade and investment ties with Switzerland. The visit sought to translate TEPA’s market access gains into business partnerships, investment commitments and greater industry use of the agreement. It was built on high-level engagement in February 2026 when the Union Minister of Commerce and Industry, Piyush Goyal, reviewed the roadmap with the Swiss president.

A bilateral meeting was held with Helene Budliger Artieda of the Swiss State Secretariat for Economic Affairs to review progress, address implementation issues and step up regulatory cooperation and efforts to remove non-tariff barriers. Under TEPA, EFTA granted improved market access on 92.2 per cent of its tariff lines, covering 99.6 per cent of India’s exports, and has offered concessions on processed agricultural products. India’s exports to Switzerland exceeded USD 1.2 billion (bn) in fiscal year 2025–26, while services exports to Switzerland stood at USD 6.884 bn in 2024, yielding a services trade surplus of USD 4.255 bn.

The secretary participated in the 55th St Gallen Symposium and joined sessions reflecting on the first 200 days of TEPA and lessons for businesses. He addressed a business roundtable that brought together senior representatives from Swiss firms across advanced manufacturing, engineering, technology and financial services to discuss investment opportunities under the agreement. The visit emphasised the attraction of Swiss investment into pharmaceuticals, biotechnology, precision engineering, clean energy, medtech and advanced manufacturing.

The visit concluded with a call for sustained government-to-government, business-to-business, and institutional engagement to ensure enterprises fully utilise TEPA benefits. Officials urged greater participation by Swiss and EFTA companies in major trade and investment events in India and highlighted the need to resolve implementation-related matters promptly. Success of the arrangement will be measured by increased exports, higher investment, job creation, technology partnerships and more resilient value chains.