Swiss President Parmelin to review India-EFTA trade pact during New Delhi visit

Swiss President Guy Parmelin is set to visit New Delhi from October 5 to 7, marking the first anniversary of the India-EFTA Trade and Economic Partnership Agreement (TEPA). The trip, expected to be one of Parmelin’s final foreign engagements before his year-end retirement, will feature discussions with Prime Minister Narendra Modi and Commerce Minister Piyush Goyal on the pact’s implementation. Since TEPA entered force on October 1, 2025, Indian exports to the four-nation EFTA bloc have declined, while imports—led by Swiss gold—have increased, and Goyal highlighted notable gains in motor-vehicle, heavy-water and moulding-pattern exports.

Ongoing talks aim to deepen regulatory cooperation, address non-tariff barriers, and boost investment in pharmaceuticals, med-tech, green technology and the blue economy. Parmelin will travel with a business delegation and attend the Prosperity Summit 2026, where government and industry stakeholders will review progress and chart a roadmap for expanded trade and investment, under a $100 billion FDI commitment intended to create one million jobs in India over 15 years.