India-Switzerland Talks as the India-EFTA Trade Deal (TEPA) Turns One: Market Access, Investment and Mobility
The President of Switzerland, Guy Parmelin, made a state visit to India from 5 to 7 October 2026. He held talks with the Prime Minister of India on trade, investment, technology, defence, nuclear energy and the movement of people.
The visit marks the first anniversary of the India-EFTA Trade and Economic Partnership Agreement (TEPA), which came into force on 1 October 2025. Switzerland is the biggest economy in EFTA (the European Free Trade Association).
The two sides signed several agreements. These include a Migration and Mobility Partnership (multiple-entry visas valid for up to five years, renewable one-year permits for students) and a Young Professionals scheme for 300 people from each country every year, which can rise to 500.
Other agreements cover transport and infrastructure technology (electric vehicles, ropeways, tunnelling) and joint research between India's Department of Science and Technology and the Swiss National Science Foundation.
India's view is that the first year of TEPA gave smaller gains than hoped. The two countries agreed to set up a special group to review TEPA and handle trade concerns, including India's demand for better market access for its marine and farm products.
Both sides backed the goal of USD 100 billion of investment from EFTA countries into India and one million direct jobs over 15 years, as promised under TEPA. India-Switzerland trade is above USD 25 billion a year, and Swiss investment in India is above USD 11 billion.
India-EFTA Trade and Economic Partnership Agreement (TEPA)
The India-EFTA Trade and Economic Partnership Agreement, or TEPA, is a trade deal between India and four rich European countries: Switzerland, Norway, Iceland and Liechtenstein. Together these four form a group called the European Free Trade Association (EFTA). Under TEPA, both sides cut the import taxes they charge on each other's goods and open up some services. Its most special feature is a promise by EFTA countries to invest USD 100 billion in India over 15 years.
The Swiss President's visit marks one year of TEPA in force. India feels the first-year gains have been modest, so both sides agreed to form a special group to review the deal and address concerns such as market access for Indian marine and farm products. Both leaders also restated the USD 100 billion investment and one million jobs goal that sits at the heart of TEPA.
Migration and Mobility Partnership Agreements (MMPAs)
A Migration and Mobility Partnership Agreement, or MMPA, is a deal between two countries about the movement of people. It makes it easier for students, researchers, skilled workers and young professionals to go and live, study or work in the other country legally. In return, both countries agree to work together to stop illegal migration and to take back their own citizens who stay illegally. In simple words, it opens a legal front door and helps close the illegal back door.
During the Swiss President's visit, India and Switzerland signed a Migration and Mobility Partnership. It offers multiple-entry visas of up to five years and renewable one-year student permits. A linked Young Professionals scheme allows 300 people from each country every year, rising to 500. This brings Switzerland into India's growing network of MMPAs and adds the "talent" pillar to the trade and technology ties under TEPA.
Free Trade Agreements: Concept and WTO Framework
A Free Trade Agreement (FTA) is a deal between two or more countries to remove or sharply cut import taxes (tariffs) on most of the goods they trade with each other. Each member still keeps its own tariffs for countries outside the deal. Modern FTAs also cover services, investment, intellectual property and rules of origin. World Trade Organization (WTO) rules allow such deals as an exception to the "same treatment for all" rule, as long as they cover "substantially all trade" between the members.
One year after TEPA came into force, India and Switzerland agreed to set up a special group to review how the FTA is working, because India feels its exporters have gained less than expected. This shows a common FTA problem: tariff cuts alone do not guarantee more exports if non-tariff barriers and standards still block goods.
- Swiss President Guy Parmelin's state visit to India: 5 to 7 October 2026
- India-EFTA TEPA: signed 10 March 2024; in force 1 October 2025; first anniversary marked in October 2026
- EFTA members: Switzerland, Norway, Iceland, Liechtenstein
- TEPA investment goal: USD 100 billion over 15 years; 1 million direct jobs in India
- India-Switzerland bilateral trade: above USD 25 billion; Swiss investment in India: above USD 11 billion; 330+ Swiss companies operate in India
- New India-Switzerland Migration and Mobility Partnership: multiple-entry visas up to 5 years; renewable 1-year student permits
- Young Professionals scheme: 300 per country per year, expandable to 500
- A special group to be set up to review TEPA and address concerns, including market access for Indian marine and farm products
- Switzerland will host a global AI summit in Geneva in 2027, after India hosted the AI Impact Summit in February 2026