Goyal Calls on Swiss Industry to Make India a Hub for Innovation & Growth

In a significant move to strengthen economic ties, Union Commerce and Industry Minister Piyush Goyal engaged with top Swiss industry leaders in Bern, Switzerland. The meetings aimed to explore new growth opportunities under the recently signed Trade and Economic Partnership Agreement (TEPA) between India and the European Free Trade Association (EFTA).

During his interactions, Goyal highlighted India’s potential as a global manufacturing and innovation hub. He urged Swiss companies to look beyond India as just a market and instead see it as a strategic base for manufacturing, research and development, and innovation. The Minister assured business leaders of India’s stable policy environment, transparent regulations, strong intellectual property protections, and growing consumer base.

Goyal chaired two high-level industry roundtables focusing on Biotech, Pharma, Healthcare, Precision Engineering, Defence, and Emerging Technologies. These sessions emphasized India’s advantages in affordability, talent, and scalability. The Minister invited Swiss companies to utilize the EFTA Desk at Invest India for assistance in setting up and expanding their businesses in India.

He also proposed greater regulatory alignment and mutual recognition agreements to further ease cross-border collaboration. Goyal encouraged Swiss firms to form joint ventures, localize production, and co-create innovative solutions tailored to both Indian and global markets.

In a separate meeting, the Minister interacted with members of the Switzerland Chapter of the Institute of Chartered Accountants of India (ICAI), appreciating their efforts in strengthening India’s professional presence abroad.

Swiss industry leaders responded with enthusiasm, expressing strong confidence in India’s growth story. Many praised India’s skilled workforce, expanding middle class, and supportive policy landscape. Sectors such as cancer therapies, cell science, automation, fibre optics, cybersecurity, and space technology were cited as key areas of interest.

The discussions marked a shared vision for deep, long-term collaboration. Swiss companies see India not only as a fast-growing market but as a natural partner and future global value chain hub.

Source: PIB