New Delhi, Oct 27 President Droupadi Murmu on Tuesday said there are immense possibilities for collaboration in areas such as artificial intelligence, research, skill development and clean technologies between India and Liechtenstein.
Welcoming Hereditary Prince Alois and Princess Sophie of Liechtenstein and his delegation, President Murmu said that in the current uncertain geopolitical and geoeconomic landscape, strengthening the economic partnership between the two countries has become more important than ever.
She also hosted a banquet in their honour.
“By combining our respective strengths, we can develop innovative solutions that address our shared challenges and create new opportunities for our people. I believe that this will also foster greater collaboration among entrepreneurs, researchers, and young professionals from both countries,” President Murmu said.
She said cultural exchanges have also brought people of both countries closer to one another.
“The growing popularity of Yoga in your country reflects your interest in India’s traditions,” she said in her banquet speech.
The President noted that cooperation between India and Liechtenstein continues to grow across sectors such as trade, investment, science and technology, innovation, culture, and people-to-people ties.
She said the Trade and Economic Partnership Agreement between India and the European Free Trade Association, which was concluded in 2024, has opened new avenues to deepen trade and investment relations.
President Murmu expressed confidence that the commitment to facilitate USD 100 billion in investments in India and create 1 million direct jobs over the next 15 years will provide a robust foundation for expanding cooperation across the shared priorities of India and Liechtenstein.
She also noted that various companies from Liechtenstein are showing a keen interest in expanding their collaboration with India in sectors such as advanced manufacturing, fintech, agricultural research, sustainable infrastructure, healthcare, and material sciences.
There is significant potential for skill development and vocational training, particularly through the promotion of partnerships between industry and educational institutions, a statement from her office quoted the President as saying.
She said that by combining Liechtenstein’s expertise in the fields of advanced manufacturing, innovation, and financial services with India’s skilled workforce, manufacturing capacity, and rapidly growing market, “we can develop a mutually beneficial partnership”.
The two leaders agreed that close cooperation between India and Liechtenstein can bring immense benefits to their people, the statement said.
They also agreed that this visit will contribute to further strengthening relations between the two countries, it said.
Earlier in the day, Prime Minister Narendra Modi and Prince Alois held wide-ranging talks focusing on boosting bilateral ties in areas of trade, technology and mobility of talents.
Prince Alois, presently serving as the acting head of the tiny European nation, is on a four-day visit to India from Sunday.
(PTI News)
