Union Minister Piyush Vedprakash Goyal, Ministry of Commerce and Industry (MoC&I), Government of India (GoI), was on a five-day official visit to Switzerland and Sweden from June 9 to 13, 2025.
- The visit reaffirmed India’s commitment to deepening strategic and economic partnerships with key European countries, promoting trade, investment, and sustainable global growth.
Highlights of the Visit:
Visit to Switzerland:
Business Roundtable on MEM Industry:
On June 9, 2025, Union Minister Piyush Goyal co-chaired a business roundtable on the Machinery, Electrical and Metal (MEM) industry with Guy Parmelin, Federal Councillor of Switzerland, in Bern (Switzerland).
- The session focused on strengthening economic cooperation under the Trade and Economic Partnership Agreement (TEPA) between India and the European Free Trade Association (EFTA).
- He urged Swiss businesses to utilise the EFTA Desk at Invest India for facilitation and support.
- Several industry leaders across sectors, including Biotechnology, precision manufacturing, healthcare, automation, defence, cybersecurity, and advanced materials, attended the roundtable.
Participation in the 18th Swissmem Industry Day
On June 10, 2025, Piyush Goyal participated in the 18th Swissmem Industry Day event, held in Zurich, Switzerland, which witnessed the participation of over 1,000 stakeholders from across Europe. It featured discussions on industrial innovation, sustainability, and global competitiveness.
- He also met the members of the Switzerland Zurich Chapter of the New Delhi (Delhi) based Institute of Chartered Accountants of India (ICAI).
Key Highlights:
i.During his address, he extended a warm invitation to the Swiss business community to be active partners in India’s journey towards becoming a USD 30-35 trillion economy by 2047.
ii.He proposed the creation of a dedicated Swiss Enclave in India to ease Swiss enterprise operations.
iii.He highlighted that India achieved a USD 4 trillion economy in 2025 from USD 270 billion economy 30 years ago.
MoU Signed between ASSOCHAM and Swissmem
On June 11, 2025, a Memorandum of Understanding (MoU) was signed between the New Delhi (Delhi) based Associated Chambers of Commerce and Industry (ASSOCHAM), a non-governmental trade association, and Zurich (Switzerland) based Swissmem for three years.
- The MoU aims to promote technical transfer, training, trade missions, exhibitions, regulatory cooperation, and investment for Micro Small and Medium Enterprises (MSMEs) and large firms.
Visit to Sweden:
21st India-Sweden JCEISC:
On June 12, 2025, Union Minister Piyush Goyal co-chaired the 21st session of the India-Sweden Joint Commission for Economic, Industrial and Scientific Cooperation (JCEISC) in Stockholm, Sweden.
- The session was co-chaired by Hakan Jevrell, State Secretary for Foreign Trade (Sweden); Sanjiv, Joint Secretary, Department for Promotion of Industry and Internal Trade (DPIIT); and Saket Kumar, Joint Secretary, Department of Commerce, MoC&I.
- Discussions focused on strategic innovation, scientific research cooperation, and expanding economic partnerships.
- The session witnessed participation from key Swedish institutions including Stockholm-based Vinnova, Eskilstuna (Sweden) based the Swedish Energy Agency, the Swedish National Space Agency.
India-Sweden High-Level Trade and Investment Policy Forum:
Union Minister Piyush Goyal participated in the India-Sweden High-Level Trade and Investment Policy Forum at the Confederation of Swedish Enterprise in Stockholm, Sweden.
- The event brought together business leaders and policymakers from both sides to discuss the evolving trade architecture and opportunities.
India-Sweden Business Leaders Roundtable:
Piyush Goyal addressed the India-Sweden Business Leaders’ roundtable, where he interacted with key members of Swedish industry.
- The roundtable served as a platform for strengthening private-sector collaboration in clean energy, smart manufacturing, mobility, life sciences, and digital technologies.
Meeting with Benjamin Dousa:
Piyush Goyal also met Benjamin Dousa, Minister for International Development Corporation and Foreign Trade (Sweden).
- The discussion focused on expanding the scope of India-Sweden trade and investment partnership, facilitating sustainable industrial collaboration, and identifying key areas for technology and innovation-driven growth.
About the Ministry of Commerce and Industry (Mo&CI):
Union Minister – Piyush Vedprakash Goyal (Constituency – Mumbai North, Maharashtra)
Minister of State (MoS) – Jitin Prasada (Constituency – Pilibhit, Uttar Pradesh, UP)
