Europa Star: India and Switzerland share a long tradition of innovation and diplomacy. In your view, how can the luxury and creative industries further strengthen this relationship?

Ambassador Mridul Kumar: Our two countries are in a very strong position. Switzerland has ranked number one in the world for innovation and R&D for 13 consecutive years. India, with 550 million young people under the age of 35, has enormous creative energy and a strong culture of digital adoption. These strengths complement each other. Switzerland is a leader in precision and high-quality luxury goods, such as watchmaking and jewellery. India, on the other hand, has centuries-old traditions of craftsmanship, textiles and artisanship. When you combine Swiss precision with Indian creativity, you create powerful opportunities for collaboration.

The India-EFTA Free Trade Agreement is a landmark deal. What opportunities do you see for the luxury, design and watchmaking sectors?

This is India’s first free trade agreement with a European partner, and it goes beyond tariff reduction. It includes commitments of USD 100 billion in investment and one million new jobs in India over 15 years. For the luxury sector, tariff cuts mean Swiss watches and jewellery will be more accessible in India. Products like Swiss chocolate and cheese will also reach Indian consumers more easily. With India’s growing middle class and appetite for quality, Swiss luxury brands will find a much larger audience.

Both India and Switzerland are known for craftsmanship and heritage. How can these traditions influence the future of sustainable luxury?

Sustainability must be at the core of luxury. India’s textile history illustrates this well. For centuries, India has produced cotton and silk goods coloured with organic dyes, luxurious yet environmentally responsible. Swiss watchmaking shows the highest precision and technical expertise. When you combine Indian craftsmanship, such as enamel work, with Swiss precision, you create exceptional, sustainable luxury pieces.

Switzerland is ranked as the most innovative country, while India is emerging as a major innovation hub. How can collaboration in luxury and entrepreneurship be accelerated?

The free trade agreement creates a strong foundation. Industries on both sides must now engage directly. I have seen examples already. Franck Muller in Geneva, known for highly complex watches, created a Ram Mandir watch. The dial was crafted in India with intricate goldwork, while the movement came from Switzerland. This shows how Indian artisanship and Swiss innovation can come together to create unique luxury products.

The free trade agreement strengthens and deepens the historical ties that already exist between Swiss watchmakers and India, as demonstrated by these archives: a letter of congratulations from the mayor of Mumbai for the first edition of Europa Star in India in 1950.

© Europa Star

How can the luxury and creative industries serve as instruments of soft diplomacy?

Swiss products are globally trusted for quality and reliability. When Indian consumers buy Swiss chocolate, cheese or watches, it is more than a purchase, it builds trust. Luxury products often outlast generations, becoming symbols of reliability. India, with its scale, can help adapt these technologies and products to reach larger audiences at lower costs, making Swiss quality more widely accessible. This strengthens bonds between our countries beyond politics and trade.

India is increasingly on the radar for global luxury brands. What are the distinct characteristics of India’s luxury market?

Luxury in India has two sides: exclusivity and affordability. Historically, Indian luxury goods, such as cotton textiles, were produced at scale with high quality and reasonable cost, making them accessible worldwide. Today, India is the fourth largest economy, soon to be the third. A young, aspirational population with rising disposable incomes is eager for high-quality products. By combining global standards with Indian craftsmanship and competitive costs, brands can reach not only India but also third markets.

A business trip in 1951 to Calcutta by Hans Wilsdorf, founder of Rolex, accompanied by Hugo Buchser, founder of Europa Star.

© Europa Star

Finally, is there a personal story or symbol that reflects Indo-Swiss ties in luxury?

The Franck Muller Ram Mandir watch is a striking example. It is a bespoke piece, extremely complex, yet the dial was made by Indian artisans with gold ornamentation, and the movement by Swiss watchmakers in Geneva. It symbolises the best of both countries: Swiss precision and Indian craftsmanship, working together to create something unique and meaningful.