Swiss President Guy Parmelin during his recent visit to India described India as a rapidly emerging global research and development power and reaffirmed Switzerland’s commitment to a long-term partnership with India in education, research and innovation. Switzerland had earmarked an additional CHF (Swiss Francs) 45 million for the science and technology partnership.

There are efforts to deepen the longstanding India-Switzerland partnership in science, technology, research and innovation, with a focus on moving towards a more structured, strategic, and long-term framework for cooperation. Artificial Intelligence (AI) as an enabling tool with applications across diverse fields rather than a standalone discipline is emerging as another area of Indo-Swiss partnership. India is increasingly adopting an interdisciplinary, mission-mode approach to science and technology, with national programmes bringing together expertise across disciplines and ministries.

Indo-Swiss Research platforms

India and Switzerland have built more than two decades of scientific cooperation since signing the Inter-Governmental Agreement on Science and Technology in 2003. The partnership has evolved through the Indo-Swiss Joint Research Programme and expanded into areas such as quantum technology, artificial intelligence, clean technology, renewable energy, ocean research and the blue economy, advanced materials, pharmaceuticals, biomedical research, pandemic preparedness and space technologies.

The Indo-Swiss Joint Committee on Science and Technology has also played an important role in reviewing ongoing cooperation and shaping future engagements, with seven rounds held so far, the latest in Bern in September 2025. The partnership has steadily expanded through the participation of the Department of Science and Technology (DST), Department of Biotechnology (DBT), Ministry of Earth Sciences (MoES), Indian Council of Medical Research (ICMR) and Indian Council of Social Science Research (ICSSR), in collaboration with Swiss institutions, particularly the Swiss National Science Foundation (SNSF). This broad-based cooperation today spans research areas, including mountain and glacier studies, geoscientific hazards, systems medicine, One Health, and social sciences.

Indo-Swiss Research Framework (ISRF) and the Indo-Swiss Joint Scientific Board would provide a stronger foundation for strategic, long-term cooperation. The recently signed Letter of Intent between the Swiss National Science Foundation (SNSF) and the Department of Science and Technology (DST), along with the Implementation Agreement between the Zurich University of Applied Sciences (ZHAW) and DST, will strengthen institutional engagement and research collaboration.

The Indo-Swiss Research Framework now seeks to take this cooperation from a project-based model towards a more strategic, system-level partnership, with enhanced mobility, knowledge exchange and long-term cooperation. The new funding and cooperation mechanisms under the Indo-Swiss Research Framework will complement the existing research, technology and innovation ecosystems of both countries and open new horizons for researchers.

A new collaborative mechanism with Switzerland in the fields of Innovation and R&D, “India-Swiss Innovation Platform”, was launched in Bengaluru on 30 October 2023. The platform launch coincided with the first Indo-Swiss Anti-Microbial Resistance (AMR) dialogue, in which about 50 experts from the two countries participated to discuss innovative approaches to address the serious but silent public health threat posed by AMR to the humanity.

Expanding Trade And Investment Ties Under EFTA

Commercial contacts between India and Switzerland date back to the early 19th century when in 1851 the Volkart Trading Co. established its offices in Basel and Mumbai. During the First World War, Switzerland set up its consulates in key locations around the world, including in Mumbai, to secure food and economic prospects.

The Integral Coach Factory (ICF) in Chennai set up, based on the 1949 agreement signed between the Indian government and the Swiss Cars and Elevators Manufacturing Ltd. Zurich, expanded its India network, diversifying its activities, and soon becoming the backbone of Switzerland’s economic presence in India.

Switzerland has remained an important trading partner of India, though the trade balance has been in its favour. With a total trade of US$ 23.27 billion, Switzerland was India’s 15th largest trading partner in FY2024-25. While Indian exports have remained consistent in the past five years, India’s imports have fluctuated since a substantial part of it is in gold bullion. Switzerland is amongst world’s major gold refining centres.

MMTC-PAMP, a joint venture between the Government of India undertaking Minerals and Metals Trading Corporation (MMTC) and Swiss group PAMP, is the first domestic innovator to develop gold bars and colorisation of old coins.

FDIs from Switzerland to India from April 2000-June 2025 amounted to US$ 10.87 billion placing it at 12th position globally. Swiss FDI in India increased by 53% during 2015-2023 recording an average annual growth rate of 9%. At least 330 Swiss companies are present in India with a subsidiary, joint venture or liaison or representation office, out of which 294 entered the Indian market post liberalisation of Indian economy in 1991. These companies have created over 1,66,000 jobs in India, 108 companies have their manufacturing facility in Switzerland, 74 out of the 108 use India as export hub for other markets, and 30 Swiss companies operate their R&D centre in India.

India Too Has Contributed FDI

Overseas Direct Investment (ODI) from India to Switzerland during April 2000 to August 2025 was US$ 8.9 billion placing it at 10th position. In 2025-26, by Indian companies in Switzerland amounted to US$ 1277.49 million. Dr. Reddy’s was the biggest investor, with an investment of US$ 620 million followed by Glenmark Pharmaceuticals Ltd. (US$ 385 million); Sanmar Group International Ltd. (US$ 100 million); Lupin Ltd. (US$ 35.83 million); Deccan Advanced Sciences Pvt. Ltd. (US$ 33.639 million) and Famy Pharma Pvt. Ltd. (US$ 21.54 million).

The India-European Free Trade Association (EFTA)

Trade and Economic Partnership Agreement (TEPA) completed one year of implementation on 1 October. Switzerland is the biggest economy under India-European Free Trade Association (EFTA).

Interest among Swiss companies in TEPA has been very strong since its entry into force. Investments by Swiss companies have already been made or are planned across a wide range of sectors. TEPA will provide a significant boost to bilateral trade between Switzerland and India in the years to come. TEPA helps create the conditions for a deeper and lasting economic relationship that encourages long-term investment, creates employment and contributes to innovation and sustainable growth.

(The writer is a commentator on geopolitics and geoeconomics. Views expressed are personal.)