Switzerland and other European Free Trade Association (EFTA) nations, including Iceland, Liechtenstein, and Norway, have committed to investing USD 100 billion in India over the next 15 years.
The announcement was made by Martin U Maier, Consul General of Switzerland in Mumbai, during the Global Investors Summit in Bhopal. This investment plan is a key component of the recently signed Trade and Economic Partnership Agreement (TEPA) between India and the EFTA bloc.
The agreement aims to strengthen economic ties between India and these European nations, providing a significant boost to trade and investment. Maier emphasised that a major focus will be on encouraging Swiss companies to expand their operations in India.
He noted that several Swiss firms are already integrating their Indian operations into their global supply chains, further enhancing India's role as a key manufacturing and business hub.
Maier acknowledged that while there is growing interest from Swiss companies to invest in India, the country faces stiff competition from other Asian economies also seeking foreign investments.
He highlighted the importance of guiding companies in finding the best locations to establish their businesses in India.
The Indian government has made significant strides in improving the ease of doing business, which Maier recognised as a positive development. He expressed optimism that ongoing reforms will continue to attract international investors and facilitate smoother business operations.
On the topic of reciprocal tariffs imposed by former U.S. President Donald Trump, Maier noted the global impact of such measures. He stated that while these tariffs could affect multiple nations, including India and Switzerland, a solution would likely be reached through negotiations.
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