'Space, engineering, farming & more…' India eyes $100 Bn Swiss investment boom, says Piyush Goyal
(ET Online)
'Space, engineering, farming & more…' India eyes $100 Bn Swiss investment boom, says Piyush Goyal
03:21 Min | June 11, 2025, 11:19 AM IST
During his visit to Bern, Switzerland, Union Commerce and Industry Minister Piyush Goyal said there is a potential investment of $100 billion from Swiss companies into India. He highlighted that over 1,500 renowned Swiss firms in research, precision manufacturing, and engineering are already active in India. He said ' "There is a possibility of an investment of 100 billion dollars coming to Switzerland...Today, more than 1500 renowned companies of Switzerland, those who are involved in research, precision manufacturing and engineering, whose components are famous in the world, have come here. I got a chance to present India's case among such companies.'
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
an hour ago
- Business Standard
India, China in talks on rare earths to ensure supply predictability: MEA
India is engaging with China to ensure greater stability in trade supply chains, particularly in light of Beijing's recent restrictions on rare earth exports, the Ministry of External Affairs (MEA) said on Thursday. According to media reports, the global automotive sector is grappling with China's export controls on certain rare earth elements used in electric vehicles and other technologies. The resulting shortages have reportedly raised concerns among industry players about potential supply chain disruptions. 'We are in touch with the Chinese side, both here in Delhi as also in Beijing, to bring predictability in supply chain for trade, consistent with international practices,' said foreign ministry spokesperson Randhir Jaiswal. Earlier this week, Commerce and Industry Minister Piyush Goyal said China's restrictions on the export of rare earth elements and related magnets will have short-term impacts on the domestic automotive and white goods sectors. The rare earth magnet issue In reaction to heightened tariffs imposed by United States President Donald Trump's administration, China imposed export restrictions from April 4, targeting seven specific rare earth elements and related magnets. The affected materials—samarium, gadolinium, terbium, dysprosium, lutetium, scandium and yttrium—are critical for applications in industries such as defence, energy and automotive technology. Under the revised regulations, Chinese exporters were required to secure special permits before shipping these items abroad. US–China deal However, on Wednesday, both the United States and China announced that they had reached a preliminary understanding aimed at reviving their trade truce. As part of this arrangement, China has agreed to lift its export curbs on rare earth materials. However, according to The Wall Street Journal, China is placing a six-month cap on export licences for rare earth elements to US automakers and manufacturers. The measure is expected to provide Beijing with additional leverage in trade discussions and heighten uncertainty for US industries dependent on these materials.
The Print
2 hours ago
- The Print
Boeing shares fall sharply after Ahmedabad plane crash
The shares of key Boeing partner GE Aerospace had dropped by 4.7 percent in pre-market trading during the filing of this report. Its GEnx engines had powered the now-destroyed Air India Flight AI-171. At the time of writing the report, Boeing shares had fallen to $196.96, down by 7.96 percent. Markets are to open again at 9 am ET, or 6.30 pm IST roughly. New Delhi : Boeing suffered a bloodbath, falling by nearly eight percent in pre-market trading on NASDAQ, the US stock exchange, Thursday, after an Air India-operated Boeing 787-8 Dreamliner flight crashed seconds after its take-off from Ahmedabad. After the deadly crash, GE Aerospace released a statement on social media platform X. 'We are deeply saddened by the loss of Air India Flight AI-171. We extend our heartfelt sympathies to the families and loved ones of those impacted. We have activated our emergency response team, and we are prepared to support our customer and the investigation.' The Boeing plane that crashed had taken off from Ahmedabad's Sardar Vallabhbhai Patel International Airport at 1.38 pm and was bound for London's Gatwick Airport, carrying 230 passengers, 10 crew members, and two pilots. The exact reason for the crash is still not clear. The crash occurred in Meghaninagar, a highly populated region near the international airport in Gujarat's Ahmedabad. Following the crash, eyewitnesses reported a big fire and dense black smoke. The plane reportedly made a mayday call shortly after leaving runway 23 but then lost communication with air traffic control. The civil aviation ministry has said the airport would be available for flight operations from 16.05 IST onwards. Flight operations had earlier been suspended until further notice. In a post on X, Gautam Adani expressed dismay at the crash, saying the company had been working closely with the authorities and providing full support to families. His Adani Group manages the Ahmedabad airport. Indian airlines, including Indigo, Akasa Air, and SpiceJet, have also issued statements of mourning after the incident. (Edited by Madhurita Goswami) Also Read: Ahmedabad pilots tried to land in empty area, say aviation experts. See Google Earth images
Mint
3 hours ago
- Mint
Goyal discusses trade, FTA prospects with Sweden in push to deepen economic ties
New Delhi: Commerce minister Piyush Goyal on Thursday held wide-ranging discussions with senior Swedish government officials and industry leaders in Stockholm, as part of a broader effort to strengthen India's economic partnership with Europe. The talks focused on expanding bilateral trade, boosting investment flows, and exploring collaboration in emerging sectors such as clean technology and innovation, the commerce ministry said in a statement. Goyal, who is on a five-day tour of Switzerland and Sweden, co-chaired the 21st session of the India–Sweden Joint Commission for Economic, Industrial and Scientific Cooperation, where both sides reaffirmed their commitment to deepening strategic ties. According to the ministry, Goyal's meetings in the Swedish capital featured leading Swedish institutions, like LeadIT, Vinnova, the Swedish Energy Agency, the National Space Agency, the National Board of Trade, the Export Credit Agency, Business Sweden, and the Swedish Chamber of Commerce in India. A dedicated roundtable also explored ways to strengthen the India–Sweden economic corridor, the ministry said. Key areas of discussion included innovation, green transition, advanced technologies, and building resilient supply chains, it added. Goyal has wrapped up the Swiss leg of his tour. Last March, India and the four-nation EFTA – comprising Iceland, Liechtenstein, Norway and Switzerland – signed a free trade deal to integrate and strengthen supply chains, attract investments and generate new business opportunities. The EFTA has also made a binding commitment to invest $100 billion in India and create one million direct jobs in the next 15 years. Meanwhile, India and the European Union have also stepped up efforts to clinch a long-pending free trade agreement, aiming to forge closer economic ties as global supply chains shift. Negotiations, revived in 2022 after nearly a decade, have gained urgency with both sides seeking reliable trade partners. For India, the EU offers a major export market and investment in clean tech. For the EU, India is a growing economy and strategic hedge against China. Key hurdles remain—such as tariffs, intellectual property, and sustainability standards—but officials are optimistic about a breakthrough by 2025. During his visit to Sweden, Goyal also urged Swedish companies to expand their footprint in India, citing the country's investor-friendly regulations, growing consumer market, skilled workforce, and strong industrial base. Goyal participated in the India–Sweden High-Level Trade and Investment Policy Forum at the Confederation of Swedish Enterprise. He also held one-on-one meetings with Swedish firms from sectors such as automation, renewable energy, sustainable food systems, maritime technology, and advanced materials. Talks centred on easing land access, building skilling partnerships, and facilitating fast-track clearances.
