Switzerland is keen to accelerate bilateral ties with India by opening up more trade and investment opportunities, and both countries are also working to create an innovation platform, according to Swiss Ambassador to India Ralf Heckner.
Stressing that his “expectations are very high,” he said innovation and a free trade agreement could take bilateral ties to the next level.
In an interview with PTI here on Monday, Heckner said he sees a close convergence between the two countries when it comes to innovation.
“As Switzerland is the most innovative country and more innovation is created in India, I would like to see the most strategic innovation relationship. We are working with the Government of India to create an innovation platform that brings together the best Universities, IITs and Swiss Federal Institutes of Technology together with very innovative Swiss and Indian companies,” he said.
The idea of creating an innovation platform is in its early stages and in this context a pilot project focusing on antimicrobial resistance is ongoing.
“By the end of the year we will present our first results regarding the pilot project,” said the ambassador, adding that there is also convergence on intellectual property rights (IPR).
“The more innovative India becomes, the more interest India will have in IPR. Switzerland attaches great importance to IPR and I see India moving into this area. It will also open up some interesting collaborations,” he noted.
In the Global Innovation Index 2022, India improved to rank 40, led by Switzerland.
On the trade front, negotiations between India and the European Free Trade Association (EFTA) have been ongoing for some time. EFTA is an intergovernmental organization of Iceland, Liechtenstein, Norway and Switzerland.
With India recently forging trade deals with Australia and the United Arab Emirates, Heckner said he would like negotiations on a free trade agreement between India and EFTA to move forward swiftly.
“I feel like the Indian government is open to trade deals now… The proof of the pudding is already there, due to trade deals that India has signed with Australia and the United Arab Emirates.
“The next important visit will be that of the Secretary of State for Economy in Delhi in early February. If we are able to advance our negotiations, it would take our relationship to the next level,” he said.
In the years 2020 to 2021, bilateral trade between Switzerland and India amounted to around CHF 11 billion.
“In 2023, I would like to see our bilateral relationship accelerate… we are not only celebrating 75 years of India’s independence, but also 75 years of friendship.
“It is so important that friendly countries work together. So we want to celebrate our friendship and expect high-level visits to and from India,” Heckner said.
“Switzerland is an important country economically. We are an innovative country and one of the largest investors… The potential for our trade relations is there. Around 330 Swiss companies are based in India and around 1,000 in China. The potential is that we could triple the number of Swiss companies in India,” said Heckner.
The ambassador went on to say that Swiss investments in the US, the world’s largest economy, amount to around USD 300 billion.
“So $300 billion has been invested by Switzerland in the US and $10 billion in India. That gives you an idea of the potential we have when it comes to Swiss-India trade relations,” he added . PTI RAM BAL BAL
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