Prime Minister Narendra Modi said the India-EFTA trade pact could help attract $100 billion in investment and create 10 lakh direct jobs in India over the next 15 years.

Modi made the remarks after talks with Swiss President Guy Parmelin in New Delhi on October 5. The leaders discussed trade, investment, defence, nuclear energy, technology and people-to-people ties.

The Trade and Economic Partnership Agreement (TEPA) between India and the European Free Trade Association (EFTA) came into force on October 1, 2025. EFTA includes Switzerland, Norway, Iceland and Liechtenstein.

Modi said the agreement would improve market access for Indian exports to Switzerland. He highlighted opportunities for agriculture, pharmaceuticals, textiles and engineering goods.

The pact is also expected to encourage Swiss investment in India. Key sectors include biotechnology, life sciences, banking, insurance, food processing and sustainability.

India and Switzerland also agreed to expand cooperation in defence production and nuclear energy. Innovation, infrastructure and advanced technology were identified as important areas for future collaboration.

People-to-people ties were another key focus. The two countries signed agreements on migration and mobility and young professionals. These arrangements are expected to create more opportunities for Indian students, researchers and skilled professionals in Switzerland.

The second India-EFTA Prosperity Summit will be held in New Delhi on October 7. The event will focus on converting the trade pact’s investment and business opportunities into concrete outcomes.

The India-EFTA trade pact is expected to strengthen market access, investment and employment while deepening economic ties between India and Switzerland.