Commerce and Industry Minister Piyush Goyal will visit Berne, Switzerland on June 12, 2026 for high-level discussions with Swiss government officials and pharmaceutical industry leaders. According to the latest press release from the Press Information Bureau, the minister is scheduled to meet Helene Budliger Artieda, State Secretary for Economic Affairs, and Guy Parmelin, Federal President of Switzerland. Goyal will also interact with representatives of the Swiss pharmaceutical industry during the visit. As reported by UNI, this visit shows the importance India attaches to its economic engagement with Switzerland and other European Free Trade Association (EFTA) states.
The visit comes as India and the European Free Trade Association (EFTA) implemented the trade and economic partnership agreement (TEPA) in October 2025. As reported by the latest press release, India and the EFTA States—Switzerland, Norway, Liechtenstein and Iceland—signed the Trade and Economic Partnership Agreement (TEPA) in March 2024, which entered into force in October 2025. The agreement represents a significant trade partnership between India and the four-nation European bloc, with discussions during the visit expected to focus on implementation of TEPA, addressing operational issues arising from the agreement, and enhancing bilateral trade, investment and institutional cooperation. The pact provides a comprehensive framework for strengthening trade, investment, and economic cooperation between the two sides.
According to the commerce ministry statement, discussions during the visit are expected to focus on implementation of TEPA, addressing operational issues arising from the agreement, and enhancing bilateral trade, investment and institutional cooperation. The minister will engage with Swiss companies and investors in Zurich to discuss opportunities for expanding bilateral trade and investment opportunities. On the sidelines of the visit, Goyal will explore avenues for deeper economic collaboration and discuss opportunities for expanding bilateral trade and investment, as reported by UNI.
The TEPA offers significant economic opportunities with the European bloc committing $100 billion in investment over 15 years, which would facilitate the creation of one million direct jobs in India. Under the agreement, 92.2 per cent of tariff lines cover 99.6 per cent of India's exports to the region, while the EFTA's market access offer covers 100 per cent of non-agricultural products and tariff concessions on some processed agricultural products. India is offering 82.7 per cent of its tariff lines covering 95.3 per cent of EFTA exports, with the pact reducing tariffs on specific EFTA goods for Indian consumers including Swiss watches, whisky and chocolates. This comprehensive framework strengthens trade, investment, and economic cooperation between the two sides.
Goyal will be accompanied by senior officials from the Department for Promotion of Industry and Internal Trade (DPIIT) and the Ministry of Health and Family Welfare during the visit. As reported by the latest press release, this high-level delegation underscores the importance of the discussions and the government's commitment to addressing post-implementation challenges in the India-EFTA trade relationship. The visit represents a proactive approach to supporting the effective implementation of TEPA and further strengthening the longstanding economic partnership between India and Switzerland.
