Historical Relations:

· Diplomatic relations began with the Treaty of Friendship signed on 14 August 1948, one of independent India’s earliest such treaties.

· The Treaty came into force on 5 May 1949.

· Industrial cooperation began early: a 1949 agreement with Swiss Cars and Elevators Manufacturing Ltd., Zurich contributed to setting up the Integral Coach Factory (ICF), Chennai

Economic and Commercial Relations:

· Switzerland was India’s 15th-largest trading partner in FY 2024–25, with total trade of about US$23.27 billion.

· Major Indian exports include chemicals, pharmaceuticals, jewellery, textiles, machinery and agricultural products.

· Major Swiss exports include gold bullion, chemicals, pharmaceuticals, machinery, precision equipment and watches.

· India–EFTA TEPA:

o   FTA negotiations: Began in 2008 and concluded after 21 rounds over 16 years.

o   Trade and Economic Partnership Agreement (TEPA): Signed on 10 March 2024 with Iceland, Liechtenstein, Norway and Switzerland.

o   TEPA entered into force: 1 October 2025; India also set up an EFTA Desk to facilitate investment.

o   India and Switzerland are negotiating a new Bilateral Investment Treaty (BIT); their Double Taxation Avoidance Agreement (DTAA) was signed in 1995.

Science, Technology & Innovation:

· The India–Switzerland S&T Cooperation Agreement was signed in 2003, followed by the Indo-Swiss Joint Research Programme in 2005.

·  The India–Switzerland Science and Innovation Alliance were strengthened in 2019.

·  The India–Swiss Innovation Platform was launched in Bengaluru in 2023 to promote innovation and R&D.

·  Switzerland announced that it will host a future AI Summit in Geneva in the first half of 2027.

Financial & Tax Cooperation:

· Automatic Exchange of Information (AEOI) on financial accounts became operational between the two countries in 2018, helping combat tax evasion and illicit financial flows.