Finance
Union Minister of Commerce and Industry, Shri Piyush Goyal, held extensive engagements with Swiss industry leaders on 9th June 2025 in Bern, Switzerland, 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).
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.The Minister 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.
Shri Goyal assured the leadership of 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.
Following these strategic discussions, the Minister chaired two focused roundtables with sectoral leaders from Swiss industry—covering Biotech & Pharma, Healthcare, and Precision Engineering, Defence, and Emerging Technologies. These sessions, hosted with the support of the Indian Embassy in Switzerland, highlighted India’s scale, affordability, and rising innovation ecosystem.
The Minister called on Swiss businesses to leverage the dedicated EFTA Desk at Invest India for handholding and facilitation support. He reiterated India’s willingness to work towards regulatory harmonization and mutual recognition agreements, highlighting India’s proactive stance on building reciprocal bridges to encourage Swiss and Indian investments.
In addition to industry interactions, the Minister also met with members of the Switzerland Chapter of the Institute of Chartered Accountants of India (ICAI). He lauded the chapter for their contributions and for upholding the high standards and global reputation of the ICAI, while strengthening the India–Switzerland professional and business ecosystem.
Swiss industry leaders across a diverse range of sectors—including biotechnology, precision manufacturing, healthcare, automation, defence, cybersecurity, and advanced materials—expressed strong confidence in India’s trajectory as a global economic powerhouse and an innovation-led growth destination.
Companies commended India’s unique strengths: a vast and dynamic market, growing middle class, world-class engineering and scientific talent, and a policy environment that actively promotes ease of doing business, IP protection, and technology partnerships. For many, India is not only a promising market but also an ideal base for manufacturing, R&D, and co-creation of globally competitive solutions.
Several firms indicated active interest in forming joint ventures, scaling operations, and localizing production to serve both Indian and international markets. From cutting-edge cancer therapies and cell sciences to industrial automation, fibre optics, space technologies, and digital security, Swiss companies underscored their alignment with India’s developmental priorities and sectoral growth plans.The sentiment was one of strategic alignment and long-term commitment. Many participants described India as a natural partner and conveyed readiness to invest in its next phase of growth—not only to tap into domestic demand but to position India as a hub in their global value chains.
Source: PIB
