Swiss companies scout for opportunities in India

Swiss companies are keenly looking at business opportunities in India and other high growth markets, amid sluggish economic conditions in Europe, a Swiss official said today.

Switzerland is the eleventh biggest foreign investor in India, according to Chris Watts, part of Swiss government's Trade and Investment Promotion body.

"Swiss companies are now not just looking at China. They are looking at Asian and Latin American markets that have high growth potential. They are looking at the growing middle class (population) as such as the one in India," he told PTI here.

He noted that Swiss companies have created about 66,000 jobs in India in the last 10 years. At present, about 100 firms from Switzerland have business in the country.

Watts said Indian companies are also very interested to invest in Switzerland.

"Bilateral trade (between the two nations) is expected to grow 5-10 per cent over the one to two years. I expect Swiss exports to grow little faster than Indian exports to Switzerland," he said.

The trade between India and Switzerland stood at nearly $ 5 billion last year.

Watts was speaking on the sidelines of an event organised by the Swiss Embassy to announce that Glenmark Pharmaceuticals CMD Glenn Saldanha has been chosen for 'Swiss Ambassador's Award for Exceptional Innovation'.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • The current value of the rupee does not merit market intervention

    The rupee, losing 40 paise per month against the dollar since May, is expected to remain under pressure till the calendar runs out on December 31, bef

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Tushar Gandhi

Sustainable model for rural sanitation

Prime minister Narendra Modi has promised to build a toilet ...

Zehra Naqvi

How smells evoke strong memories

Remember that time when a passing fragrance transported you to ...

Dharmendra Khandal

Indian zoos need a fresh approach

Recently, when a man jumped in a tiger trench of ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture