India Strategic Hub for Innovation and Manufacturing: Piyush Goyal to Swiss Industry Leaders
GG News Bureau
Bern/New Delhi, 10th June: Union Commerce and Industry Minister Piyush Goyal held a series of high-level engagements with Swiss industry leaders in Bern on June 9, with a strong pitch to position India as a strategic hub for manufacturing, talent, and innovation. The meetings aimed to deepen bilateral economic cooperation under the recently signed Trade and Economic Partnership Agreement (TEPA) between India and the European Free Trade Association (EFTA).
During discussions with top executives from leading Swiss companies across biotechnology, precision engineering, healthcare, defence, and emerging technologies, Shri Goyal invited businesses to expand their footprint in India and leverage its fast-growing market and innovation ecosystem.
He emphasized India’s commitment to fostering a transparent, investor-friendly environment through robust regulatory systems, strong intellectual property protections, and enabling policy frameworks. The Minister encouraged Swiss companies to view India not just as a market but as a base for R&D, design, and global-scale production.
Goyal also chaired two focused roundtables with Swiss industry representatives in key sectors—biotech, pharma, healthcare, precision manufacturing, defence, and new-age technologies—organized with the support of the Indian Embassy in Switzerland. These interactions highlighted India’s scale, affordability, and growing innovation capabilities, with Swiss companies expressing keen interest in collaboration.
To further streamline partnerships, Shri Goyal urged Swiss businesses to use the dedicated EFTA Desk at Invest India for facilitation and support. He reiterated India’s openness to regulatory harmonization and mutual recognition agreements, reinforcing India’s commitment to reciprocal, growth-oriented trade and investment relations.
The Minister also interacted with members of the Switzerland Chapter of the Institute of Chartered Accountants of India (ICAI), applauding their global contributions and role in strengthening Indo-Swiss business and professional linkages.
Swiss industry leaders responded positively, recognizing India’s strengths—its large consumer base, skilled workforce, and pro-growth economic policies. Several companies conveyed interest in forming joint ventures, setting up manufacturing units, and localizing R&D to serve both Indian and international markets.
From advanced therapies and cybersecurity to fibre optics and automation, Swiss firms reiterated alignment with India’s developmental priorities and expressed long-term commitment to being part of India’s economic journey. Many described India as a “natural partner” and a vital link in their global value chains.
