India and Switzerland have signed a Memorandum of Understanding which will provide a useful forum for exchange of financial and micro-economic issues. Briefing the media after delegation level talks with her Swiss counterpart, President Mrs Pratibha Devisingh Patil said, India's overriding priority is to achieve rapid, sustainable and inclusive development over the coming decades.

Mrs Patil said, Switzerland is a world leader in many areas which are important for India's development. The President, during talks with her Swiss counterpart, Mrs.Micheline Calmy-Rey and other members of the Federal Council, discussed economic and financial cooperation between India and Switzerland.

Mrs Patil also said that India views Switzerland as an important partner in all international fora. Both sides discussed UN reforms including expansion of the Security Council.

The President also said that India and Switzerland have much in common and this has fostered close mutual understanding and cooperation on a wide range of bilateral as well as multi-lateral issues.