Berne— In a symbolic gesture aimed at strengthening economic ties, Commerce and Industry Minister Piyush Goyal on Tuesday proposed the creation of a dedicated “Swiss Enclave” in India—an exclusive zone tailored for Swiss companies seeking to establish or expand their footprint in the country.
Speaking at the Swissmem Industry Day in Switzerland, Goyal extended a warm invitation to Swiss business leaders and innovators, urging them to become active partners in India’s growth journey toward becoming a $30–35 trillion economy by 2047.
“I come with the aspirations of 1.4 billion Indians—who dream as high as your Alps—forging a path to a better future,” Goyal said. “To the engineers, innovators, and entrepreneurs of Switzerland, I extend a hand of friendship.”
He highlighted India’s impressive transformation from a $270 billion economy three decades ago to its current $4 trillion status and emphasized the country’s young and dynamic population, with an average age of just 28.4 years.
Goyal positioned India as a trusted partner—democratic, rule-of-law-based, and open to foreign business. “Democracy, demographic dividend, decisive leadership, and diversity make India a dependable partner,” he stated.
The Minister also referenced the recently signed India-EFTA Trade and Economic Partnership Agreement (TEPA), which he called a “Trust and Efficiency Partnership,” designed to unlock new opportunities in trade, investment, and innovation between India and the four EFTA nations.
Inviting Swiss small and medium-sized enterprises (SMEs) to explore India’s evolving economy, Goyal pointed to major infrastructure advancements over the past decade: 80 new airports (including one developed with Zurich Airport), doubled port capacity, world-class highways, 104 new inland waterways, and a 50-fold increase in solar power capacity.
He noted that India spends more than $125 billion annually on infrastructure, generating strong multiplier effects across the economy.
Goyal also emphasized India’s vast talent pool, particularly in STEM fields, with the country producing the most STEM graduates globally—43% of whom are women. “India’s combination of talent, scale, and speed makes it the ideal destination for investment,” he said.
Quoting World Bank data, he noted that extreme poverty in India has dropped to just 5%, with 270 million people lifted out of poverty over the last 11 years. He described India’s growth as a blend of welfare-driven and consumption-led development, backed by major investments in manufacturing and technology.
“India is a country on the move, full of opportunity and ready to welcome global partners,” Goyal concluded. (Source: IANS)
