Switzerland and other European Free Trade Association (EFTA) countries, including Iceland, Liechtenstein, and Norway, are poised to invest USD 100 billion in India over the next 15 years, as announced by Martin U Maier, the Consul General of Switzerland in Mumbai. In an exclusive interview, Maier discussed this commitment, which is part of the recently established Trade and Economic Partnership Agreement (TEPA) between India and the EFTA nations. A significant chapter of this agreement details the substantial investment aimed at bolstering economic cooperation between India and the EFTA bloc.
Maier stated, “Switzerland, along with the other EFTA countries—Iceland, Liechtenstein, and Norway—has signed a free trade agreement, the Trade and Economic Partnership Agreement with India, which includes a commitment of USD 100 billion in investments over the next 15 years.” He emphasized the importance of encouraging Swiss companies to expand their presence in India, noting, “We need to ensure that Swiss companies are attracted to India and invest here. Many companies are interested and actively seeking investment opportunities.”
However, he acknowledged that India faces strong competition from other Asian nations also seeking investments. “India is not without competition; there are other countries in Asia looking for investments. We must guide companies on how to identify the best locations for investment and production,” Maier added. He also highlighted that several Swiss firms are incorporating their Indian operations into their global supply chains, positioning India as a crucial hub for their manufacturing and business activities.
Regarding the ease of doing business in India, Maier recognized the significant advancements made by the Indian government. “There has been good progress, and I see that India is continuing its efforts to improve the ease of doing business across all sectors,” he remarked. When discussing the potential effects of reciprocal tariffs imposed by former U.S. President Donald Trump on various countries, including India and Switzerland, Maier acknowledged the global ramifications of such policies. “I believe it will affect the entire world, including India and Switzerland. We need to examine the specifics when they become clear, and I am confident a solution will be found,” he concluded.
This USD 100 billion investment commitment represents a significant milestone in India-EFTA economic relations, indicating a promising increase in trade, employment, and industrial collaboration between the two regions.
