“India Day" at Lugano organised by the Lugano City Council
17 April 2026
Remarks by Ambassador

Thank you Alex

Fellow panelists

members of the city council,

Distinguished guests, ladies and gentlemen,

Good afternoon,

Let me begin with a simple observation.

Not very long ago, a young entrepreneur in India could build a company that served only a local market.

Today, that same entrepreneur can build a digital product in a small city in India — and serve customers in Europe, including here in Lugano — almost instantly.

That transformation — from local to global — defines the India of today.

And it is a pleasure to be here in Lugano as we celebrate India Day and reflect on what this means for all of us.

A Partnership Entering a New Phase

India and Switzerland share a long-standing and trusted economic relationship.

This partnership has now entered a new phase with the India–EFTA Trade and Economic Partnership Agreement — TEPA — which came into effect on 1 October 2025.

TEPA is not just a trade agreement.

It is a framework for deeper collaboration, designed to make business more predictable, more efficient, and more scalable.

Why This Moment Matters

A few perspectives help explain why this moment is significant.

India is now the world’s fourth-largest economy, and on track to become the third-largest in the coming years.

Its middle class is expanding rapidly, creating one of the largest consumption markets globally.

It is also one of the fastest-growing digital economies in the world.

And perhaps the most striking point:

By 2030, one in every five working-age people globally will be Indian.

This represents not just demand — but the future workforce and innovation engine of the global economy.

What TEPA Enables

TEPA translates this potential into practical opportunity.

It offers: preferential market access, greater regulatory clarity, and stronger institutional cooperation

For businesses, this means lower entry barriers and greater confidence.

Complementary Strengths

This partnership works because our strengths align so naturally.

EFTA countries bring: precision engineering,advanced technologies,

financial expertise, and sustainability leadership

India brings:

Scale, cost efficiency,talent and a dynamic innovation ecosystem

Together, this enables high-value, globally competitive collaboration.

Lugano: A Natural Partner in Innovation

This is where Lugano has a special role to play.

With its strengths in financial services, innovation, and digital finance, Lugano represents exactly the kind of ecosystem that can connect with India’s growth story.

India today is: one of the world’s largest fintech markets, a leader in digital infrastructure, and a fast adopter of financial innovation.

There is clear potential for collaboration — particularly in: fintech, sustainable finance, and innovation-led investment platforms

This is where local expertise in Lugano can connect with global scale in India.

A Financial Sector Perspective

Let me share a brief example from the financial sector.

A Swiss financial services firm — with a profile not unlike many institutions here in Lugano — began exploring India a few years ago, initially from a distance.

Their first assumption was that India was primarily a manufacturing and outsourcing destination.

But as they engaged more deeply, they discovered something very different.

They found a rapidly evolving financial ecosystem — digital payments at scale, strong regulatory innovation, and a new generation of tech-driven financial companies.

By partnering with Indian fintech firms and establishing a local presence, they were able to: access new clients, co-develop digital solutions, and tap into India’s technology talent.

Today, India is not just a market for them — it is a source of innovation and a strategic growth pillar.

Their key takeaway was simple: India is not just a destination for capital — it is a partner for innovation.

From Potential to Execution

India’s transformation is also visible in its infrastructure and execution capabilities.

Investments in logistics, transport, and industrial corridors are reducing costs and improving efficiency.

What once took weeks can now often be done in days.

This shift from potential to execution is one of the most important changes in India today.

Mobility: Enabling Collaboration

TEPA also supports the movement of professionals.

This allows companies to: deploy expertise quickly, build cross-border teams, and accelerate innovation.

Because ultimately, people are what make partnerships work.

Leveraging Indian Business Culture

To fully benefit from these opportunities, understanding Indian business culture is essential.

First — Relationships Matter

Trust and long-term engagement are key to success.

Second — Flexibility Creates Opportunity

India is dynamic. Those who adapt often find new possibilities.

Third — Entrepreneurial Energy

There is a strong culture of innovation and problem-solving.

Fourth — Partnership Over Transaction

The most successful collaborations are built on co-creation and shared growth.

A Clear Shift in Perspective

Today, there is a noticeable shift in how India is perceived.

It is no longer seen only as an emerging market.

It is increasingly viewed as a strategic destination for investment and innovation.

TEPA has strengthened this confidence.

Conclusion: An Invitation to Engage

Ladies and gentlemen,

As we celebrate India Day here in Lugano, we are also celebrating a partnership with real potential.

The framework is in place.

The opportunity is clear.

And the momentum is growing.

But the real success of this partnership will come from engagement — from building relationships, sharing ideas, and working together.

India is open.

India is ready.

And India invites you to be part of this journey.

Let us not only trade more —

let us innovate together, invest together, and grow together.

Thank you.