TEPA Goals Must Be Achieved”: Piyush Goyal after Talks with Swiss Counterpart

GG News Bureau
New Delhi, 17th July. Commerce & Industry Minister Piyush Goyal undertook an official visit to Switzerland at the invitation of Federal Councillor Guy Parmelin, his Swiss counterpart.

During the visit, both ministers engaged in bilateral talks aimed at strengthening the Trade and Economic Partnership Agreement (TEPA) between India and Switzerland.

The visit included productive discussions and a joint breakfast meeting involving prominent leaders from Swiss and Indian industries. Minister Goyal encouraged Swiss companies to invest in India’s dynamic market, highlighting opportunities for growth and collaboration.

Key highlights of the visit also included meetings with Chairman/CEOs of Swiss industries invested in India, and interactions with the Indian diaspora. Director General of WTO, Ms. Ngozi Okonjo-Iweala, also met with Minister Goyal during the visit.

The TEPA, signed on March 10, 2024, aims to significantly boost bilateral trade and investment. Switzerland currently ranks as India’s 20th largest trading partner globally, with bilateral trade reaching US$ 21 billion in 2023. Swiss investments in India, totaling US$ 10 billion, have contributed significantly to job creation with over 330 Swiss companies operating in India.

The discussions during the visit focused on accelerating the realization of the ambitious targets set under TEPA, including attracting US$ 100 billion in investments and creating one million jobs in India over the next 15 years.