India offers tailored industrial zone for Swiss firms

Berne: Seeking to deepen economic engagement and attract greater foreign direct investment, Commerce and Industry Minister Piyush Goyal on Tuesday proposed the establishment of a dedicated enclave for Swiss companies in India. The proposal, aimed at creating a supportive ecosystem for Swiss enterprises, was floated during his interaction with business leaders from both countries in the Swiss capital here today.

“We could even create a Swiss enclave, an area dedicated to Swiss businesses,” Goyal said, underlining India’s readiness to provide tailored infrastructure and incentives for foreign investors. He suggested that such an enclave could house Swiss-style restaurants, hotels, schools, and colleges to accommodate the lifestyle and needs of Swiss professionals working in India.

The minister’s pitch aligns with New Delhi’s broader agenda to transform India into a global hub for manufacturing and investment. Goyal is in Switzerland on a two-day visit, holding meetings with top government officials and business representatives to strengthen trade and investment ties.

He also highlighted the Indian government’s plans to develop industrial parks and investment zones under its industrial corridor initiative, backed by an allocation of approximately Rs 28,000 crore. These hubs are being set up across several states, including Uttarakhand, Punjab, Maharashtra, Kerala, Uttar Pradesh, Bihar, Telangana, Andhra Pradesh, and Rajasthan.

Among the identified locations are Khurpia (Uttarakhand), Rajpura-Patiala (Punjab), Dighi (Maharashtra), Palakkad (Kerala), Agra and Prayagraj (Uttar Pradesh), Gaya (Bihar), Zaheerabad (Telangana), Orvakal and Kopparthy (Andhra Pradesh), and Jodhpur-Pali (Rajasthan).

Goyal’s outreach comes at a time when India and the European Free Trade Association (EFTA) - of which Switzerland is a key member - are working to operationalise a recently concluded free trade agreement, expected to significantly enhance economic cooperation and investment flows between the two sides.

(With PTI inputs)