India for deeper co-op in R&D, biotech and pharma with Switzerland

New Delhi: India on Thursday called for deeper cooperation in research and development, biotechnology, specialty pharmaceuticals and advanced therapeutics with Switzerland with an aim to further strengthen economic ties between the two countries.

Commerce and Industry Minister Piyush Goyal also sought Swiss investments in sectors where Switzerland has established niche technological strengths. These issues were discussed during the meeting between Goyal and President of the Swiss Confederation Guy Parmelin here.

In the context of the AI Impact Summit, both sides acknowledged the need to balance innovation with responsibility and noted that TEPA offers significant opportunities for technology collaboration in areas such as precision engineering, health sciences, renewable energy, innovation and research and development.

India and the European Free Trade Association last year implemented the trade & economic partnership agreement (TEPA).

“The pact opens doors for “Make in India” products to integrate into the $1 trillion market of Switzerland. From farmers and fishermen to forest dwellers, workers, women, youth, small businesses, and professionals, TEPA has opened doors to new opportunities and a brighter economic future,” the commerce ministry said.