PM Modi holds delegation-level talks with Swiss President

Prime Minister Narendra Modi on Monday held delegation-level talks with Switzerland President Johann Schneider Ammann in Geneva.

"A closer engagement with the heart of Europe. President and PM lead delegation level talks #IndiaSwitzerland," tweeted Ministry of External Affairs (MEA) official spokesperson Vikas Swarup.

"Towards a new synergy between Swiss possibilities & Indian opportunities. PM at a business roundtable in Geneva," he said in a series of tweets.

Both sides are expected to have discussed issues of mutual interests, including trade investments, energy and infra structure sectors, besides India's membership in the Nuclear Suppliers Group (NSG) and black money during the talks.

Earlier, Prime Minister Modi and the Swiss President had restricted talks to further elevate the bilateral ties between the two sides to the next level.

The Prime Minister is also expected to interact with the Swiss business leaders to enhance investments in India under several schemes including the 'Make in India' initiative.

India and Switzerland have had cordial and friendly relations since India's independence. Exchange of high-level visits in the recent past has provided an impetus to strengthen bilateral cooperation.

With growing bilateral trade and foreign investment, India and Switzerland enjoy strong economic ties.

Swiss-India bilateral trade nearly tripled from USD 1.6 billion in 2004 to USD 4.5 billion in 2011 even as the balance of trade has remained in favour of Switzerland.

From April 2000 to September 2015, Switzerland invested as FDI approximately USD 3.18 billion in India, thus becoming the 11th largest investor and accounting for about 1.2 percent of total FDI in India during this period.