Prime Minister Narendra Modi and Swiss President Guy Parmelin signed six major agreements in New Delhi on Monday, October 5, including a migration and mobility partnership and a $100 billion investment roadmap, as the two leaders moved to deepen India-Switzerland ties across trade, technology, defence and people-to-people exchanges.
The summit-level meeting at Hyderabad House opened Parmelin's three-day State visit to India — his first State visit to the country and his second trip this year after attending the AI Impact Summit in February.
Six pacts, one headline number: $100 billion
The two leaders inked six agreements covering migration and mobility, youth mobility, infrastructure, research and technology, and backed a $100 billion EFTA investment roadmap aimed at creating one million direct jobs in India over the next 15 years.
The most significant outcome was the Migration and Mobility Partnership (MMP), which provides for multiple-entry visas valid for up to five years, renewable one-year student permits, and new mechanisms to facilitate employment and mobility for Indian students, youth and skilled professionals.
- Five-year multiple-entry visas under the new Migration and Mobility Partnership
- Young Professionals Agreement: 300 professionals from each country annually, expandable to 500
- Nationality and residency verification to be completed within 30 to 90 days
- New joint research in health, clean energy and space
- $100 billion EFTA investment roadmap targeting one million direct jobs in 15 years
PM Modi said the agreements would open new opportunities in Switzerland for Indian students, researchers, professionals and young people.
Ceremony at Rashtrapati Bhavan
Parmelin, who arrived Monday morning, was accorded a ceremonial reception at the forecourt of Rashtrapati Bhavan, where he was received by President Droupadi Murmu and PM Modi. He later paid tribute to Mahatma Gandhi at Rajghat before the delegation-level talks.
External Affairs Minister S. Jaishankar also called on the Swiss leader ahead of the Modi meeting and said he deeply appreciated Parmelin's sentiments towards deepening the partnership, building on the promise of the India-EFTA Trade and Economic Partnership Agreement (TEPA).
"The visit is an excellent opportunity to emphasise the importance that both Switzerland and India attach to this relationship. My visit is a stepping stone towards further growth, deepening and strengthening of our close, broad and long-standing partnership."
— Swiss President Guy Parmelin, New Delhi, October 5, 2026
TEPA turns one
A prominent theme of the visit was the India-EFTA TEPA, signed in March 2024 after nearly 16 years of negotiations and in force since October 1, 2025. Parmelin's visit coincides with the first anniversary of the pact, which will be commemorated at the second India-EFTA Prosperity Summit on October 7.
Both leaders noted the positive momentum the pact has generated and reaffirmed their commitment to an innovation-led partnership spanning artificial intelligence, military exchange, defence production, nuclear energy, science and technology.
Switzerland is India's largest trade and investment partner among the four EFTA nations — Switzerland, Norway, Iceland and Liechtenstein.
Reel soundtrack: Kevin MacLeod - Long Road Ahead B (incompetech.com), licensed under CC BY 3.0
Sources: Organiser (MEA list of outcomes), ABP Live (PTI), ETV Bharat, Lokmat Times (IANS)