(a) whether Switzerland has shown interest to explore Free Trade Agreement with India;
(b) if so, the details thereof;
(c) the status of current Indo-Swiss bilateral trade at present; and
(d) the details of sectors where Switzerland has shown interest for cooperation with India?
THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE AND INDUSTRY ( SHRI JAIRAM RAMESH)
(a) & (b). No, Sir. However the Swiss authorities have mooted a proposal for establishing a dialogue between the European Free Trade Association (EFTA)countries(comprising Switzerland, Norway, Iceland and Liechtenstein) and India to discuss and examine the measures to promote bilateral economic and trade relations, including the option to eventually negotiate a free trade agreement. The proposal is at the initial examination stage.
(c) The volume of total bilateral trade between India and Switzerland during 2005 - 06 was US$ 6999.66 million. The total bilateral trade has increased by 8% as compared to the total bilateral trade in 2004 - 05. During 2005 - 06, India’s exports to Switzerland was US $ 474.14 million, registering a decrease by 12.34% as compared to 2004 - 2005. India’s imports from Switzerland for 2005 - 2006 was US $ 6525.52 million, showing an increase by 9.86% as compared to the previous year. The main items of export to Switzerland from India are gems & jewellery, drugs, pharmaceuticals and fine chemicals, readymade cotton garment including accessories and machinery & instruments. Main items of import from Switzerland are gold, machinery except electric and electronic, medicinal and pharmaceutical products etc.
(d) Switzerland has shown interest for cooperation with India in sectors like textiles, pharma and precision – engineering and manufacturing.