Piyush Goyal Embarks on Official Tour to Switzerland and Sweden
Indian Commerce Minister Piyush Goyal’s Mission to Switzerland for Enhancing Trade Ties
Indian Commerce Minister, Piyush Goyal, has embarked on a visit to Switzerland with the aim of bolstering ties between India and the European Free Trade Association (EFTA). During his visit, Goyal will engage with Swiss industry leaders in sectors such as pharmaceuticals and precision engineering. He is set to co-chair the Indo-Swedish Joint Commission for Economic, Industrial and Scientific Cooperation (JCEISC) and hold meetings with major firms like IKEA, Ericsson, and Volvo to strengthen trade and investment relations.
Goyal’s visit to Switzerland holds significance as the country is a crucial member of EFTA, with which India signed a Free Trade Agreement in March 2024. The FTA aims to facilitate foreign direct investment of $100 billion in India over the next 15 years. While the FTA is awaiting ratification, Goyal’s discussions in Switzerland will focus on exploring potential collaborations and opportunities for furthering economic partnerships between the two nations.
His itinerary includes targeted sectoral meetings with Swiss industry leaders, participation in industry events like Swissmem Industry Day, and engaging in discussions on the India-EFTA Trade and Economic Partnership Agreement (TEPA). Additionally, Goyal will head to Sweden to co-chair the 21st Session of JCEISC and engage with Swedish companies in areas such as advanced manufacturing, innovation, and sustainable solutions.
Key engagements in Sweden will involve a Business Leaders’ Round Table and meetings with prominent Swedish companies like Ericsson, Volvo Group, and IKEA, who are keen on expanding their collaborations with India. Goyal’s visit aims to foster stronger trade and investment ties between India, Switzerland, and Sweden.
