Bhopal (Madhya Pradesh) [India], February 24 (ANI): Switzerland and other European Free Trade Association (EFTA) nations, including Iceland, Liechtenstein, and Norway, are set to invest USD 100 billion in India over the next 15 years, according to Martin U Maier, Consul General of Switzerland in Mumbai.

Speaking exclusively to ANI on the sidelines of the Global Investors Summit in Bhopal, Maier highlighted that the commitment is part of the recently signed Trade and Economic Partnership Agreement (TEPA) between India and EFTA nations. One of the key chapters of the agreement outlines this substantial investment aimed at enhancing economic collaboration between India and the EFTA bloc.

He said ,'Switzerland, together with the other EFTA countries, Iceland, Liechtenstein, Norway, signed a free trade agreement, the Trade and Economic Partnership Agreement with India and one of the chapters contains a USD 100 billion US dollar investment in the coming 15 years'.

Maier emphasized the need for a concerted effort to encourage Swiss companies to expand their operations in India. 'Together with India, we now have to ensure that Swiss companies flock to India and invest here. There are many companies that are interested and actively exploring investment opportunities,' he stated.

However, he noted that India faces stiff competition from other Asian countries that are also vying for investments. 'India is not without competition. There are other countries in Asia also looking for investments. Now we have to guide companies on how they can find the best place to invest and produce,'

Maier added. He also pointed out that several Swiss firms are integrating their Indian operations into their global supply chains, thereby making India a key hub for their manufacturing and business activities.

On the ease of doing business in India, Maier acknowledged the significant improvements made by the Indian government. 'I think there is good progress, and I see that India is continuing its efforts to enhance ease of doing business across all sectors,' he remarked.

When asked about the potential impact of the reciprocal tariffs by former U.S. President Donald Trump on different countries, including India and Switzerland, Maier acknowledged the global implications of such measures.

'I think it will impact the whole world, including India and Switzerland. We have to see the details when they get concrete, and I am sure there will be a solution,' he concluded.

The USD 100 billion investment commitment marks a major milestone in India-EFTA economic relations, signaling a boost in trade, employment, and industrial collaboration between the two regions. (ANI)