Union Commerce and Industry Minister Piyush Goyal yesterday held extensive engagements with Swiss industry leaders in Switzerland’s Bern. The Ministry of Commerce and Industry, in a statement, said that the engagements primarily aimed at deepening economic cooperation and exploring new avenues under the recently signed Trade and Economic Partnership Agreement (TEPA) between India and the European Free Trade Association (EFTA). During these engagements, Mr. Goyal highlighted India’s unwavering commitment to fostering a conducive business environment through transparent regulatory processes, a robust intellectual property regime, and pro-investment policy frameworks. He encouraged Swiss businesses to explore India not just as a market, but as a strategic hub for manufacturing, talent, and innovation. Mr. Goyal chaired two focused roundtables with sectoral leaders from Swiss industry-covering biotech, pharma, healthcare, precision engineering, defence, and emerging technologies.
The Minister met with leadership from several premier Swiss companies across diverse sectors, with discussions focused on enhancing synergies between Indian and Swiss enterprises, with a special emphasis on innovation, technology transfer, and sustainable manufacturing. He further extended a warm invitation to Swiss companies to expand their footprint in India and take advantage of the country’s dynamic and rapidly growing market.
Earlier, the Minister had stated that the free trade agreement between India and the four-nation European bloc EFTA is likely to come into force from September. The European Free Trade Association, or EFTA, comprises Iceland, Liechtenstein, Norway, and Switzerland.
Talking to the media, the Minister said that today the world recognises India as not only the fastest-growing large economy in the world but also the best place to do business. He said that India is now the most preferred investment destination. Mr. Goyal further asserted that in the last 11 years, Prime Minister Narendra Modi has taken the country from the fragile five economies to the top five countries.
