New Delhi: India and Switzerland on Thursday signed a social security agreement to encourage the movement of professionals between the two countries.
The social security agreement was signed in the presence of Doris Leuthard, the visiting vice president of the Swiss Confederation who is also minister of economic affairs.
The agreement will allow the nationals of one country who are working in the other on a short term basis - not more than 72 months - to be exempted from social security contributions in their host nation.
There are overs 11,000 Indian citizens working in Switzerland, most of them in high technology sectors. There are just over 800 Swiss nationals working here.
"This is a symbol of our friendly bilateral ties of the last 60 years. We have intensified our relations - negotiating a free trade agreement. This social security agreement is part of that intensification," Leuthard told reporters.
The deal was signed by K Mohandas, secretary in the Ministry of Overseas Indian Affairs, and Swiss envoy Philippe Welti.
India has so far signed social security agreements with Belgium, France and Germany. It is currently in discussion with the US to sign a similar deal to benefit the large number of Indian citizens working in that country.
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