Goyal Boosts India’s Economic Ties with Switzerland, Sweden

12 Jun 2025 CW Team

In meetings with Swiss leaders, including Federal Councillor Guy Parmelin and State Secretary Helene Budliger Artieda, Shri Goyal discussed TEPA implementation, regulatory collaboration, skill development, and streamlined investment processes. He also met Swiss industry leaders from sectors such as biotech, pharma, defence, and precision engineering, positioning India as an attractive destination for investment and innovation.

A highlight of the visit was Shri Goyal’s keynote address at the 18th Swissmem Industry Day in Zurich, where he invited Swiss businesses to anchor research, scale up manufacturing, and co-create technologies in India. He pitched India as a global hub supported by TEPA, calling it a “Trust and Efficiency Partnership Agreement.”

In a notable success, a facilitation issue raised by Endress+Hauser regarding land near its Maharashtra facility was resolved swiftly by Indian authorities, drawing praise from the business community for responsive governance.

The Minister also held several one-on-one meetings with Swiss firms keen on setting up R&D hubs, expanding operations, and deepening supply chains in India. Key focus areas included clean tech, healthcare innovation, and industrial automation.

Accompanied by senior Indian industry representatives from ASSOCHAM, CII, and FICCI, Shri Goyal underscored India’s whole-of-government approach to economic diplomacy. He also interacted with members of the Switzerland Chapter of ICAI, acknowledging their role in advancing India’s reputation for financial excellence.

The visit concluded with strong reaffirmation from Swiss stakeholders about India’s potential as a rising economic powerhouse and partner of choice for innovation and manufacturing.

In Sweden, Shri Goyal will co-chair the 21st Session of the Indo-Swedish Joint Commission for Economic, Industrial and Scientific Cooperation with Minister Benjamin Dousa. Key engagements include bilateral meetings with senior Swedish officials and discussions with major companies such as Volvo, IKEA, Ericsson, SAAB, and Alfa Laval. The agenda focuses on advanced manufacturing, sustainability, green technology, and innovation.

The Minister will also meet with the Indian diaspora and engage in media interactions, further strengthening ties between the two nations. The visit reflects India’s commitment to fostering resilient, innovation-driven global partnerships as it advances towards becoming a USD 5 trillion economy.

Union Commerce and Industry Minister Shri Piyush Goyal concluded a successful two-day visit to Switzerland and commenced official engagements in Sweden, advancing India’s strategic economic cooperation with key European partners. The Switzerland visit focused on operationalising the Trade and Economic Partnership Agreement (TEPA) between India and the European Free Trade Association (EFTA), signed earlier this year.In meetings with Swiss leaders, including Federal Councillor Guy Parmelin and State Secretary Helene Budliger Artieda, Shri Goyal discussed TEPA implementation, regulatory collaboration, skill development, and streamlined investment processes. He also met Swiss industry leaders from sectors such as biotech, pharma, defence, and precision engineering, positioning India as an attractive destination for investment and innovation.A highlight of the visit was Shri Goyal’s keynote address at the 18th Swissmem Industry Day in Zurich, where he invited Swiss businesses to anchor research, scale up manufacturing, and co-create technologies in India. He pitched India as a global hub supported by TEPA, calling it a “Trust and Efficiency Partnership Agreement.”In a notable success, a facilitation issue raised by Endress+Hauser regarding land near its Maharashtra facility was resolved swiftly by Indian authorities, drawing praise from the business community for responsive governance.The Minister also held several one-on-one meetings with Swiss firms keen on setting up R&D hubs, expanding operations, and deepening supply chains in India. Key focus areas included clean tech, healthcare innovation, and industrial automation.Accompanied by senior Indian industry representatives from ASSOCHAM, CII, and FICCI, Shri Goyal underscored India’s whole-of-government approach to economic diplomacy. He also interacted with members of the Switzerland Chapter of ICAI, acknowledging their role in advancing India’s reputation for financial excellence.The visit concluded with strong reaffirmation from Swiss stakeholders about India’s potential as a rising economic powerhouse and partner of choice for innovation and manufacturing.In Sweden, Shri Goyal will co-chair the 21st Session of the Indo-Swedish Joint Commission for Economic, Industrial and Scientific Cooperation with Minister Benjamin Dousa. Key engagements include bilateral meetings with senior Swedish officials and discussions with major companies such as Volvo, IKEA, Ericsson, SAAB, and Alfa Laval. The agenda focuses on advanced manufacturing, sustainability, green technology, and innovation.The Minister will also meet with the Indian diaspora and engage in media interactions, further strengthening ties between the two nations. The visit reflects India’s commitment to fostering resilient, innovation-driven global partnerships as it advances towards becoming a USD 5 trillion economy.

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