The 4th India-Swiss Financial Dialogue was held here today virtually through video conferencing. Shri Ajay Seth, Secretary Economic Affairs led the Indian delegation. The delegation from the Swiss side was led by Ms. Daniela Stoffel, State Secretary, State Secretariat for International Finance, Switzerland. The Indian delegation included representatives from Department of Economic Affairs, Department of Revenue, Department of Financial Services and Ministry of External Affairs.

The Dialogue, inter-alia, covered sharing of experiences by both countries 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. Further, matters relating to G20, IMF and tax challenges arising from the digitilisation of the economy was discussed along with infrastructure financing. Both the countries shared views and perspective on their respective countries and global economic scenario. Both sides emphasised importance of coordinated bilateral action on clean and resilient post-COVID world.

The Dialogue concluded on a positive note for a sustained future collaboration between both countries in the areas of mutual interest.

India and Switzerland have had cordial and friendly relations based on shared values of democracy and rule of law. India’s policy of non-alignment and Switzerland’s traditional policy of neutrality has led to a close understanding between the two countries. Both the countries have several bilateral dialogue mechanisms in place and this Financial Dialogue remains amongst the most important.

Cross-border financial cooperation to strengthen collaboration on investments, fintech, sustainable finance and tax issues from digitisation. The dialogue addressed bilateral cross-border financial services cooperation, focusing on collaboration in investment facilitation, the International Financial Services Centre Authority and the National Investment and Infrastructure Fund, and mobilising infrastructure financing. Participants emphasised sustainable finance, FinTech development and coordinated bilateral action on tax challenges arising from digitilisation of the economy to support a clean, resilient post COVID recovery.