Piyush Goyal Invites Swiss Firms to Invest in India, Emphasising India’s ‘Red Carpet’ Treatment
Why in News?
- During a strategic visit to Switzerland, India’s Commerce and Industry Minister Piyush Goyal actively promoted investment opportunities, encouraging Swiss companies to participate in India’s growth trajectory. This outreach comes amid the implementation of the India–EFTA Trade and Economic Partnership Agreement (TEPA) and aims to deepen economic collaboration between India and European counterparts.
Important Key Points:
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Red Carpet Treatment:
Goyal urged Swiss firms to view India as a dynamic market ripe for investment, reiterating India’s welcoming stance and business-friendly environment. -
India–EFTA Trade Deal Progress:
Discussions centred around advancing the TEPA, under which EFTA has pledged up to US $100 billion in investment over the next 15 years, covering Switzerland, Norway, Iceland, and Liechtenstein. -
Robust Trade and Investment Stats:
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Switzerland is India’s 20th-largest trading partner, with bilateral trade reaching around US $21 billion in 2023.
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It ranks as the 12th-largest cumulative FDI source, contributing close to US $10 billion between April 2000 and March 2024.
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Growing Swiss Presence in India:
Over 330 Swiss companies operate across India, generating more than 166,000 jobs, with several firms engaging in local manufacturing and R&D operations. -
Infrastructure and Trade Talks:
Goyal also met with Zurich Airport officials and MSC Cargo leaders to explore cooperation in aviation infrastructure and logistics sectors. He discussed global trade dynamics with the WTO DG, highlighting India’s emphasis on open and balanced trade.
