Swiss Federal Councillor Johann N Schneider Ammann will visit India during May 15-16 to hold talks with his counterpart and enhance economic ties between the two countries.
He will be accompanied by a 15-member high-powered business delegation, besides three members of Cantonal governments.
Schneider-Ammann will be Switzerland’s first Cabinet Minister to visit India after the Narendra Modi-led government assumed office in May last year. He is one of the seven members of the Federal Council, Switzerland’s Cabinet, and had last visited India in April 2011.
Ammann will meet Commerce and Industry Minister Nirmala Sitharaman and Skills Development Minister Rajiv Pratap Rudy, said Linus Von Castelmur, Swiss Ambassador to India.
Bilateral trade Trade flows between Switzerland and India have grown significantly since 2003.
In 2013-14, Swiss exports to India stood at $19.43 billion, while imports from India stood at $1.82 billion.
Switzerland is now fifth largest exporter to India in value terms. This Alpine country is the largest supplier of precious metals to the Indian market. However, since 2012 the Swiss exports to India have been declining due to the appreciated Swiss Franc as well as economic slowdown in India.
At the same time, growing Swiss imports from India have brought down the trade deficit, which has traditionally remained in favour of Switzerland.