"Swiss firms expand investments to target the Indian market."

More Swiss companies are stepping up efforts to enter the Indian market, while those already present are planning to scale up operations following the implementation of the Trade and Economic Partnership Agreement (TEPA) between India and the European Free Trade Association (EFTA). The agreement came into effect on October 1 last year.

According to the Swiss-Indian Chamber of Commerce, Swiss interest in India is expanding beyond traditional strengths such as machine tools and engineering. A growing number of technology-driven firms are exploring the establishment of global capability centres (GCCs) in India, while companies in sectors including education, hospitality, wines and chocolates are also closely evaluating opportunities in the country.

Satish Rao, President of the Swiss-Indian Chamber of Commerce, said TEPA has provided much-needed policy clarity for Swiss companies engaging with India. “The most visible impact of TEPA has been the policy clarity and predictability it has brought to Swiss companies engaging with India. While investments typically take time to materialise, TEPA has accelerated decision-making by providing long-term certainty on market access, investment protection, and sustainability-related commitments,” Rao told businessline.

Switzerland is India’s largest trading partner among EFTA nations, followed by Norway. Under TEPA, EFTA countries have committed to investing $100 billion in India and creating one million jobs over a 15-year period.

At present, around 328 Swiss companies operate in India across sectors. Rao noted that this compares with nearly 1,200 Swiss companies in the United States, underscoring the untapped potential in India. “We believe there is huge potential for more Swiss companies, especially those with an overseas presence in other markets, to consider setting up bases in India,” he said.