Swiss Indian Bilateral Trade

The Economic and Commercial Affairs Division of the Swiss Embassy, headed by Economic Counsellor Siamak Rouhani, aims to promote and intensify the bilateral economic relations between Switzerland and India.

Over the years, economic relations between Switzerland and India have become more and more comprehensive; rapidly evolving into a full-fledged partnership between two countries which are unequal in terms of size and economic structure but share a common commitment to actively take part in the globalizing world. Today, India is a priority country in the framework of Switzerland's Foreign Economic Strategy.

Swiss Indian Bilateral Trade

The trade flows between Switzerland and India have grown significantly since 2003. The two-way trade expanded from Swiss Francs 1.24 billion in 2003 to more than 4.0 billion in 2012, registering a growth of nearly 250 percent. The expansion has been steady, with both sides’ trade achieving double-digit growth in most of these years, except in 2009 and 2012. The growth could not be sustained in 2009, due to global economic meltdown, and the bilateral trade flows actually declined. In 2012, the appreciated Swiss Franc as well as economic slowdown in India had adversely impacted the growth of Swiss exports to India.

The major items that Switzerland exported to India during 2012 were machinery; pharmaceuticals; pearls, jewelry and precious metals; chemical products; precision instruments; and watches. On the other hand, the main items imported by Switzerland from India during 2012 were chemical products; textiles; pearls, jewelry and precious metal items; agricultural products; metals, machinery, and footwear.

With regard to bilateral trade in services, India remains an important emerging market for Swiss tourism. During 2012, Indian tourists spent 474,882 overnights in Switzerland (460,440 in 2011), a growth of 3 percent. Another area of bilateral trade in services, software and IT-enabled services continues to perform well in spite of the weak global economy. During the fiscal year 2012, the export of software and IT-enabled services from India to Switzerland is estimated to be more than USD 500 million.

beginning of our trade relations...

The commercial and trading relationship between India and Switzerland date back to the pre-independence days of India. It was as early as 1851 that a Swiss operation was established in India by the Volkhart Brothers. This relationship got further reinforced when India and Switzerland signed the Treaty of Friendship on 14th August 1948, the first such treaty to be signed by independent India.

Swiss Indian Trade and Investment Relations 2013 (including a list of Swiss companies in India)