Swiss President Parmelin Begins First State Visit to India as EFTA Trade Pact Turns One

Swiss President Guy Parmelin was given a ceremonial welcome at Rashtrapati Bhavan in New Delhi on Monday morning, opening a three-day state visit that both governments are framing as a test of how far their new trade relationship has come. President Droupadi Murmu and Prime Minister Narendra Modi attended the ceremony, where Parmelin inspected a Guard of Honour.

The visit, from October 5 to 7, comes at Modi's invitation. It is Parmelin's first state visit to India and his second trip to the country this year, after he attended the AI Impact Summit in New Delhi in February.

What is on the table

Modi and Parmelin are scheduled to hold bilateral talks later on Monday. According to the Ministry of External Affairs, the leaders will review cooperation across trade and investment, science, technology and innovation, mobility, culture and people-to-people ties, and will exchange views on regional and global developments, including how the two countries work together in multilateral forums.

Parmelin is travelling with a delegation of senior officials and business leaders, a signal that commercial ties will dominate. External Affairs Minister S. Jaishankar is due to call on him, and President Murmu will host a state banquet in his honour.

The trade pact at the centre

The main event of the trip comes on October 7, when Parmelin attends the second India-EFTA Prosperity Summit. That gathering marks the first anniversary of the Trade and Economic Partnership Agreement between India and the European Free Trade Association, the bloc made up of Switzerland, Norway, Iceland and Liechtenstein. The agreement was signed in March 2024 and came into force on October 1, 2025.

TEPA stands out among India's trade deals because it pairs tariff cuts with an investment pledge. The EFTA countries committed to aiming for $100 billion of investment in India over 15 years and the creation of one million direct jobs, in exchange for lower Indian duties on a wide range of goods, from industrial machinery to Swiss watches and chocolates. Among the four EFTA members, Switzerland is by far India's largest trade and investment partner, which makes this visit the most closely watched check on whether those commitments are translating into actual capital.

Why it matters now

The timing gives the visit added weight. India is under trade pressure from Washington, where a recent US law targeting countries that buy Russian energy has put tariff exposure for Indian exporters back on the agenda. Deepening ties with European partners outside the European Union offers New Delhi a way to diversify its markets and sources of investment.

For Switzerland, India's growth and its push into manufacturing, pharmaceuticals and precision engineering present opportunities for Swiss firms, many of which already have a substantial presence in the country.

The MEA described the two countries' relations as longstanding and friendly, and said the visit is expected to deepen cooperation in new areas. The last state visit by an Indian president to Switzerland took place in 2019, while Modi visited the country in 2016 and 2018.

Any agreements or announcements from Monday's talks are expected to be made public after the leaders meet.

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