Piyush Goyal To Visit Switzerland & Sweden To Deepen Trade Engagements

2025-06-09 02:07:09

(MENAFN- KNN India) New Delhi, June 9 (KNN) India's Commerce and Industry Minister Piyush Goyal is set to embark on a strategic tour of Switzerland and Sweden aimed at advancing India's trade and investment partnerships with Europe's pivotal economies.

In Switzerland, Goyal will further commitments under the India‐European Free Trade Association (EFTA) Trade & Economic Partnership Agreement (TEPA), which was signed in March 2024.

The accord envisions a USD 100 billion investment inflow and the creation of one million jobs in India over 15 years, with Switzerland being one of the four key EFTA nations.

Goyal's visit will involve high‐level meetings with Swiss officials, investors, and the Indian diaspora, continuing the efforts launched during his Zurich meeting with WTO Director‐General Ngozi Okonjo‐Iweala and Swiss leaders last July.

Key agenda items include assessing investor interest in infrastructure, manufacturing, airport modernisation, and other priority sectors under TEPA.

Goyal is expected to emphasize the legally binding nature of the investment commitments and reinforce India's readiness to pause tariff concessions if targets aren't met.

Next, in Sweden, Goyal is scheduled to meet with Swedish Foreign Affairs Minister Maria M. Stenergard to explore pathways for enhanced bilateral trade and investment growth.

The two nations already enjoy a robust economic partnership: India ranks as Sweden's third-largest Asian trading partner, witnessing a 27 per cent YoY trade increase, while Swedish companies in India have surged by 70 per cent since 2018.

These visits come as India and the EU have intensified Free Trade Agreement (FTA) discussions, with three high-level rounds conducted in the past 35 days - signalling renewed momentum in European trade ties.

Through these engagements, India aims to secure trade and investment pacts with major European partners, supporting its broader economic strategy.

(KNN Bureau)

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