The 4th India-Swiss Financial Dialogue:
The 4th India-Swiss Financial Dialogue was held virtually through video conferencing.
Highlights from the Dialogue:
- Talks for collaboration on various aspects including investments, International Financial Services Centre Authority (IFSCA), National Investment and Infrastructure Fund (NIIF), FinTech, sustainable finance and cross border financial services.
- The matters relating to G20, the International Monetary Fund (IMF), and tax challenges arising from the digitalization of the economy were discussed along with infrastructure financing.
- Emphasized the importance of coordinated bilateral action on a clean and resilient post-Covid world.
- A Treaty of Friendship between India and Switzerland was signed in New Delhi in 1948.
- India’s policy of non-alignment and Switzerland’s traditional policy of neutrality has led to a close understanding between the two countries.
- India-Switzerland Bilateral Investment Treaty (BIT) is under negotiation.
- Negotiations are also taking place on India-EFTA Trade & Economic Partnership Agreement (TEPA).
- The European Free Trade Association (EFTA) is the intergovernmental organization of Iceland, Liechtenstein, Norway, and Switzerland.
- These countries are not part of the European Union (EU) with which India is negotiating a separate trade agreement called the India-EU Broad-based Trade and Investment Agreement.