India’s push to bolster its trade presence in Europe gained momentum today as Commerce and Industry Minister Piyush Goyal began a five-day official visit to Switzerland and Sweden. The focus of the visit (June 9–13, 2025) is on deepening economic cooperation and trade agreements. The visit comes ahead of Prime Minister Narendra Modi’s visit to Canada for the G7 Summit later next week.
Discussions in Switzerland will centre around the India-EFTA Trade and Economic Partnership Agreement (TEPA), with Minister Goyal participating in crucial dialogues aimed at accelerating progress under the pact.
TEPA, which involves the European Free Trade Association (EFTA) nations — Switzerland, Norway, Iceland and Liechtenstein — is expected to unlock new avenues in sectors such as pharmaceuticals, precision engineering and high-tech manufacturing.
The minister’s engagements in Switzerland include strategic meetings with global CEOs and sector-specific industry leaders, particularly from Swiss pharma, life sciences and mechanical engineering sectors.
A roundtable with the Swiss Mechanical and Electrical (MEM) Industry, as part of the Swissmem Industry Day, will highlight India’s intent to strengthen industrial cooperation and promote technology transfer and investment.
A key highlight will be Goyal’s meeting with Swiss Federal Councillor Guy Parmelin, focused on fostering deeper economic collaboration and enhancing bilateral trade frameworks. Indian industry representatives will also join the minister in one-on-one meetings with top Swiss firms, aiming to foster direct business linkages and explore joint ventures.
Following the Swiss leg, Goyal will head to Sweden to co-chair the 21st session of the Indo-Swedish Joint Commission for Economic, Industrial, and Scientific Cooperation alongside Minister Benjamin Dousa. The commission is expected to identify priority sectors for collaboration, with a strong focus on sustainability, innovation and advanced manufacturing.
Bilateral meetings with Swedish officials, including Dousa and State Secretary Håkan Jevrell, are set to reinforce the already robust India-Sweden economic partnership. Discussions will address trade expansion, green technology cooperation, and industrial innovation, aligned with India’s broader economic goals.
The Swedish leg will also feature a high-profile India–Sweden Business Leaders’ Roundtable, bringing together top executives from companies such as Ericsson, IKEA, Volvo Group and Sandvik, many of which already have a significant footprint in India.
His European visit not only aims at secure tangible trade outcomes but also highlights India’s broader strategy of building long-term, resilient economic partnerships with innovation-driven economies.
