Switzerland is India's largest trading partner

Among the four AFTA countries. During the last fiscal year (FY 2025), India exported goods worth $1.97 billion, an increase of 1.2 percent year-on-year. Three-quarters of this export went to Switzerland, valued at $1.47 billion. In FY 2025, India imported $22.44 billion from these countries, an increase of 1.7 percent year-on-year. Of these, 97 percent of imports came from Switzerland, valued at $21.8 billion. Consequently, India has a trade deficit with AFTA. The two sides signed the trade agreement on March 10, 2024, but implementation has been delayed due to procedural formalities in these four countries.

So, Snow-covered Alp mountains of Switzerland are indeed a winter wonderland for India, especially when it comes to imports and exports. From chocolates and precious gemstones to textiles and machinery, the Indo-Swiss trade timepiece is indeed a strategic one.