DAVOS: Switzerland and India have reached consensus on a freetrade agreement after 16 years of negotiations, Swiss Economy Minister Guy Parmelin said. Parmelin traveled to India directly after the World Economic Forum in Davos, Switzerland, to meet with counterpart Piyush Goyal, according to a post by the Swiss minister on the platform X, formerly Twitter, late Saturday. The outline of a deal was agreed, and officials are working to finalize the details, he said.

The agreement “will create jobs for the young population of India, and secure employment in Switzerland,” Par melin said in an inter view with the Swiss newspaper Sonntagszeitung.