India and the four European nation bloc signed a free trade agreement on March 10, 2024, which is expected to come into force from October 1, 2025
Swiss State Secretary for Economic Affairs Helene Budliger Artieda (left) with Union Commerce Minister Piyush Goyal. PIC/X@SECO_StateSec
Switzerland’s State Secretary for Economic Affairs Helene Budliger Artieda has said a better regulatory framework and cut in red tape in India is important to attract Swiss investments. She said businesses here have raised concerns about bureaucratic hurdles.
India and the four European nation bloc signed a free trade agreement on March 10, 2024, which is expected to come into force from October 1, 2025. Under the pact, India has received an investment commitment of $100 billion in 15 years while allowing several products such as Swiss watches, chocolates, and cut and polished diamonds at lower or zero duties.
The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland. Artieda said for $100 billion investments, “We need to have the best framework conditions and this was part of the business roundtable meeting in the presence of Minister Goyal”.
“It will be important that red tape be cut as much as possible. Even in Switzerland, companies always complain that there is too much red tape. It will be very important that India creates a good framework for Swiss investments to come in,” she said. Goyal was in Switzerland on a two-day visit to meet businesses and attract investments.
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