Swiss Envoy Announces USD 100 Bn Investment Commitment By EFTA In India

Bhopal, Feb 24 (KNN) European Free Trade Association (EFTA) nations, including Switzerland, Iceland, Liechtenstein, and Norway, have committed to invest USD 100 billion in India over a 15-year period, Swiss Consul General in Mumbai Martin U Maier announced at the Global Investors Summit in Bhopal.

The investment pledge is a key component of the recently signed Trade and Economic Partnership Agreement (TEPA) between India and EFTA nations, marking a significant expansion of economic cooperation between the regions.

The agreement aims to strengthen bilateral trade relations and enhance investment opportunities for businesses on both sides.

Speaking exclusively to ANI, Maier emphasised the importance of encouraging Swiss companies to establish and expand their presence in India.

He noted that while many Swiss firms are showing active interest in the Indian market, the country faces competition from other Asian nations seeking foreign investment.

Maier highlighted that several Swiss companies are already incorporating their Indian operations into their global supply chains, positioning India as a crucial manufacturing and business hub.

The Swiss diplomat praised India's progress in improving its business environment, acknowledging the government's ongoing efforts to enhance ease of doing business across sectors.

When questioned about the potential impact of reciprocal tariffs proposed by former U.S. President Donald Trump, Maier expressed that such measures would have global implications, affecting both India and Switzerland, though he remained optimistic about finding solutions once specific details emerge.

This USD 100 billion investment commitment represents a watershed moment in India-EFTA economic relations, with the potential to generate significant employment opportunities and foster industrial development across both regions.

The agreement underscores the growing economic ties between India and European Free Trade Association nations, setting the stage for enhanced commercial cooperation in the coming decades.

(KNN Bureau)