India is a preferred place for Swiss businesses: State Secretary for Economic Affairs
Helene Budliger Artieda
, State Secretary for Economic Affairs, Switzerland, on Tuesday said India is a preferred place for Swiss industry, as she highlighted India's huge consumer base, firm economic growth, and being a democracy.
"We certainly see India as a preferred place for our industry because you are a democracy that helps. We feel united in values. You are an excellent consumer base. You have excellent growth," she told reporters at a press conference during Commerce Minister Piyush Goyal's two-day Switzerland visit.
"We really like to have a good relationship with as many markets as we can, but we do believe in the potential of India," Helene Budliger Artieda said.
Play Video
Pause
Skip Backward
Skip Forward
Unmute
Current Time
0:00
/
Duration
0:00
Loaded
:
0%
0:00
Stream Type
LIVE
Seek to live, currently behind live
LIVE
Remaining Time
-
0:00
1x
Playback Rate
Chapters
Chapters
Descriptions
descriptions off
, selected
Captions
captions settings
, opens captions settings dialog
captions off
, selected
Audio Track
default
, selected
Picture-in-Picture
Fullscreen
This is a modal window.
Beginning of dialog window. Escape will cancel and close the window.
Text
Color
White
Black
Red
Green
Blue
Yellow
Magenta
Cyan
Opacity
Opaque
Semi-Transparent
Text Background
Color
Black
White
Red
Green
Blue
Yellow
Magenta
Cyan
Opacity
Opaque
Semi-Transparent
Transparent
Caption Area Background
Color
Black
White
Red
Green
Blue
Yellow
Magenta
Cyan
Opacity
Transparent
Semi-Transparent
Opaque
Font Size
50%
75%
100%
125%
150%
175%
200%
300%
400%
Text Edge Style
None
Raised
Depressed
Uniform
Drop shadow
Font Family
Proportional Sans-Serif
Monospace Sans-Serif
Proportional Serif
Monospace Serif
Casual
Script
Small Caps
Reset
restore all settings to the default values
Done
Close Modal Dialog
End of dialog window.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
NRI in Saudi Arabia? Invest ₹18K/Month & Secure ₹2Cr for Your Kid's College Future!
investmentlife.policybazaar
Click Here
Undo
She said she is impressed with the Indian government's efforts to improve the lives of its people and alleviate poverty.
"Minister Goyal this morning spoke about on how much people have been able to be lifted out of poverty and actually join the middle class in India, and those are exactly the consumers we hope that at one point they will eat
Swiss chocolate
or buy a Swiss watch, and you know, a Swiss watch you have of course the very expensive ones, but then you have also those that are equally good in quality but more affordable," she supplemented.
Live Events
EFTA trade deal has currently been ratified by three of the four members - Liechtenstein, Norway, and Iceland.
"We are a direct democracy, so in Switzerland, we have to wait 100 days to see if anyone in Switzerland wishes to take a referendum. These 100 days is a formality, in the case of India it will be over 10th of July, and we are very (sure) that we can deposit our ratified document before the end of September," she said.
"We're very ambitious about it. We spoke about it also with Minister Goyal, and we hope that it will enter into force first of October," she said.
She said the huge number of Swiss businesses that took part in an industry event, in the presence of Minister Goyal, reflected the country's interest in India.
On the second day of his visit, Goyal addressed a gathering of over 1,000 Swiss businesses, accompanied by Swiss Federal Councillor Guy Parmelin. Goyal highlighted India's "remarkable transformation" over the past 11 years in terms of technology, innovation, and how the country offers great avenues for doing business.
"We had a record number of people in attendance, you know, I know in India you're used to big events, but in Switzerland, to have an event with 1,500 people in the room carefully listening to your minister showcases how much people are interested," she said.
"This afternoon we did one on one meetings and if I just count a little bit in my head on what we heard today, how excited Swiss companies are, I think it will be very easy to reach that target of USD 100 billion (investment in Indi as part of EFTA deal) and more importantly for me it's also the 1 million job pledge that we did," she added.
"This partnership with EFTA India should be a win-win situation for everyone. You have a very young population that needs jobs because you're trying to uplift people out of poverty into the middle class and upper middle class, and this is what Swiss companies can provide because we do compete on quality, precision, innovation, and usually these jobs pay well."
Under EFTA, these four countries have pledged to invest USD 100 billion in India over the next 15 years.
The negotiations between EFTA and India started in 2008, 21 rounds of negotiations were needed to reach an agreement on 10 March 2024, as per EFTA website. EFTA is an intergovernmental organisation set up in 1960 for the promotion of free trade and economic integration for the benefit of its four Member States.
"Norway, Liechtenstein, and Iceland have reified this agreement. Switzerland's process will last another two and a half months (or so). It is expected that we will be able to implement this in October," Minister Goyal told ANI.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
26 minutes ago
- Time of India
June 15, 2025, Birthday Forecast: Discover what the next 12 months hold for you
Happy Birthday! Your birth date has brought you here, so let us have a deep insight into what your numbers hold for you in the upcoming 12 months. Personal year For the next 12 months, you will be under the influence of Number 3, which is ruled by Guru Dev. Let us dive into what the next 12 months hold for you Career & Finance For people born on June 15, the coming year is a time for strategic development and creative blossoming in your career. As a Gemini born on this day, you have a sharp mind together with the responsibility, diplomacy, and harmony-seeking nature of the number 6. These attributes put you in a position to lead a team, interact with clients, teach, or provide advice. Your communication abilities will become increasingly well-known starting in July, and you might be requested to mentor others or advised on significant choices. This year, creative careers—particularly those in media, education, design, marketing, or wellness—benefit greatly from your touch, particularly if you make a commitment to regularity and establish a disciplined schedule. The financial picture is favorable, particularly for individuals who deal with people or run service-based firms. On the other hand, costs for property, family, or aesthetics could go up. This year is an excellent time to reassess your financial plans; prevent lifestyle inflation, review subscriptions, and establish limits on loans. Invest in equipment or instruction that will increase your earning potential and sense of fulfillment. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Pinga-Pinga e HBP? Tome isso 1x ao dia se tem mais de 40 anos Portal Saúde do Homem Clique aqui Undo Relationships The financial picture is favorable, particularly for individuals who deal with people or run service-based firms. On the other hand, costs for property, family, or aesthetics could go up. This year is an excellent time to reassess your financial plans; prevent lifestyle inflation, review subscriptions, and establish limits on loans. Invest in equipment or instruction that will increase your earning potential and sense of fulfillment. You and your spouse may have to deal with issues related to the house, kids, or money. More emotional intimacy will result from some interactions, even if they might initially feel awkward. This year, it's important to show kindness, spend quality time with others, and express gratitude verbally. Additionally, family bonds strengthen, and you can get more involved in providing care or emotional support, especially for female relatives. You may outgrow some social circles, but you will find others that provide emotional stability and opportunities for personal development. Health This year, you should prioritize heart-mind alignment, hormonal balance, and emotional sustenance for your wellness. Being highly perceptive, your emotional condition has a big impact on your physical health. Establish a holistic wellness regimen at the start of the year that includes both emotional and physical hygiene. You can balance your body and relieve mental strain by practicing movement techniques like yoga, pilates, or dancing. Between July and September, weariness, tension headaches, or digestive problems could be signs of stress brought on by over-responsibility or emotional absorption. Make sleep a priority, establish tech-free relaxation techniques, and restrict your exposure to emotionally taxing situations. Investigating supporting treatments such as journaling, sound therapy, reiki, or somatic healing is highly recommended this year. In terms of nutrition, prioritize heart-healthy items like fruit, nuts, and greens. Make appointments for blood pressure, reproductive health, or hormonal balancing examinations, particularly if you've been having erratic symptoms. Your best weapon for preserving vitality will be emotional control. Travel In the upcoming year, travel is associated with emotional connections, healing, and creative inspiration. Every voyage will have emotional or symbolic significance, even if they are not all long-distance. You might travel between May and August to go to a retreat, family get-together, or other emotionally important occasion. You can rediscover aspects of yourself that seemed dormant or reestablish relationships with loved ones through these experiences. A couple's journey could rekindle romance and clarity if you're in a relationship. The months of September and December are ideal for leisurely vacation; take into account destinations with scenic views, spas, or creative atmosphere. Even though the actual move might take place the next year, if relocation has been on your mind, now is a good time to plan and do your homework. Travel arrangements may need to be adjusted or require extra caution during Mercury retrograde times (April, August, and November); be prepared for the unexpected and make thoughtful plans. This year, travel fosters your heart just as much as your mind; it's more about growing as a person than it is about crossing places off a list. You Share Your Birthday With Lakshmi Mittal , Suraiya , Anna Hazare , Koratala Siva , Nakul (actor) , Raj Rajaratnam. Discover everything about astrology at the Times of India , including daily horoscopes for Aries , Taurus , Gemini , Cancer , Leo , Virgo , Libra , Scorpio , Sagittarius , Capricorn , Aquarius , and Pisces .
Time of India
28 minutes ago
- Time of India
Boeing sees need for 43,600 new aircrafts by 2044 as air travel demand set to surge 40%
Boeing expects global demand for air travel to increase by more than 40% by 2030, driving the need for thousands of new jetliners in the next few years, according to its 20-year demand forecast for commercial airliners released Sunday ahead of the Paris Airshow. The company expects demand for 43,600 new airliners through 2044. That is essentially the same as last year's edition, which projected demand for 43,975 new deliveries through 2043. European rival Airbus last week revised up its own 20-year commercial demand forecast by 2% to 43,420 jets, saying the air transport industry was expected to ride out current trade tensions. Boeing's delivery projection includes nearly 33,300 single-aisle airliners, just over 7,800 widebody jets, 955 factory-built freighters and 1,545 regional jets. Single-aisle jets include the 737 MAX and competitor Airbus's A320neo family and make up roughly four of every five deliveries now. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Nguyen Cu Trinh: Unsold Furniture Liquidation 2024 (Prices May Surprise You) Unsold Furniture | Search Ads Learn More Undo Also Read: Airbus sees global aircraft fleet doubling by 2044, led by India While Boeing's deliveries projection is roughly the same, it pared down its 20-year forecast for passenger traffic growth from 4.7% in last year's outlook to 4.2% this year. Likewise, it lowered its global economic growth forecast from 2.6% to 2.3%, cargo traffic growth from 4.1% to 3.7% and fleet growth from 3.2% to 3.1%. Live Events Despite the lower projection for cargo traffic, Boeing Vice President of Commercial Marketing Darren Hulst told reporters in a briefing that trade volatility is not expected to significantly shift long-term demand. "I think we need to point back to the perspective that the last 20, 40, 60 years have given us in terms of the value of air cargo, and the fact that it's roughly a 4% growth market through all this time," he said. Since COVID-19, air travel demand has bounced back, but airplane production is only half or even less than what it was before the pandemic, resulting in a shortage of 1,500 to 2,000 airliners, he said. Both Airbus and Boeing have struggled to return aircraft production to pre-pandemic levels. Boeing has been dealing with production safety concerns following a 2024 mid-air blowout of a panel on a nearly new Alaska Airlines 737 MAX. As a result, the U.S. Federal Aviation Administration capped 737 production at 38 airplanes a month. Boeing has significantly improved production quality in recent months, but the crash of an Air India Boeing 787-8 Dreamliner on Thursday put it back in crisis mode. CEO Kelly Ortberg cancelled his plans to attend the Paris Airshow in order to assist with the crash investigation. Global air travel is projected to increase by more than 40% by 2030, compared to the pre-pandemic high, according to the forecast. During the next 20 years, Boeing expects about 51% of demand for new aircraft to come from growth rather than replacing older airplanes. China and South/Southeast Asia, which includes India, are expected to account for half of that additional capacity, according to the outlook. North America and Eurasia account for more than half of projected deliveries for replacing older aircraft. China makes up an estimated 10% of Boeing's existing order backlog. The country paused taking delivery of new Boeing aircraft as China and the U.S. clashed over tariffs. However, deliveries are expected to resume this month, Ortberg said in May during an investors conference.
Time of India
30 minutes ago
- Time of India
Who is Sanjay Patel, the businessman honoured with MBE this year?
It was King Charles' birthday, and to mark the special occasion, the reigning monarch of the United Kingdom handed out several honors to recognize exemplary achievements in various fields. Apart from David Beckham receiving an OBE, Sanjay Patel, a prominent figure in the UK's hospitality industry, has been honored with the Member of the Order of the British Empire (MBE) award by King Charles III. What is the Honors List? The Birthday Honors List recognizes celebrities and community heroes for their amazing achievements or service to the country, by awarding them with honours such as an OBE (Officer of the Order of the British Empire), MBE (Member of the Most Excellent Order of the British Empire), or CBE (Commander of the Order of the British Empire). The awards are handed out twice a year in the UK - once at New Year, and then again in June on the monarch's official birthday. This June, Sanjay Patel, a distinguished British entrepreneur, received the MBE from King Charles III in recognition of his significant contributions to the British culinary landscape, the UK's hospitality industry, and community development. Here's all you need to know about Patel. Who is Sanjay Patel? Best known for founding Madhu's, a renowned chain of Indian restaurants, Sanjay Patel is known for his diversified business that ventured into serviced accommodation, property development, and social entrepreneurship. Patel's journey from a young entrepreneur to a respected figure in the UK's hospitality industry is marked by his unwavering commitment to quality, innovation, and community service. Early life and career Born in Nairobi, Kenya, Sanjay Patel hails from a family with deep culinary roots. His grandfather, affectionately known as Madhu, was a renowned chef and hotelier who established the Brilliant Hotel in Nairobi during the 1930s. This legacy of hospitality and culinary excellence profoundly influenced Sanjay's career path. At the age of 17, he opened Madhu's, a restaurant that would go on to become a cornerstone of luxury Indian cuisine in the UK. Madhu's is renowned for its high-quality dishes and exceptional service. The restaurant's success is a testament to Patel's commitment to excellence and his ability to blend traditional Indian flavors with contemporary dining experiences. Madhu's: A culinary legacy Born into a family with a rich culinary heritage, Sanjay Patel was inspired by his grandfather's legacy in the food industry. Established in 1980, Madhu's has become a cornerstone of luxury Indian cuisine in the UK. The restaurant is celebrated for its high-quality dishes and has catered at prestigious venues such as Buckingham Palace, Windsor Castle, and No. 10 Downing Street. Under Patel's leadership, Madhu's has set new standards in the hospitality sector, being the first to receive an external catering contract at The Savoy Hotel in London. Moreover, the establishment has hosted pop-up events at renowned locations such as Harvey Nichols and Harrods, further solidifying its reputation in the luxury dining scene. Contributions to the hospitality industry Patel's influence extends beyond his restaurant. He has been instrumental in promoting Indian cuisine within the broader British culinary community, advocating for greater recognition and appreciation of diverse culinary traditions. Community engagement and philanthropy Beyond his professional achievements, Patel is deeply committed to community service. He has actively supported various charitable initiatives, focusing on promoting cultural understanding and supporting underrepresented communities. His involvement in community projects reflects his belief in the power of food to bring people together and foster social cohesion. Diversification into property and serviced accommodation Beyond the restaurant industry, Patel has demonstrated a keen entrepreneurial spirit by venturing into property development and serviced accommodation. He has established serviced accommodation businesses in Bournemouth and Liverpool, capitalizing on the growing demand for quality lodging at affordable prices. Net worth While specific figures regarding Patel's net worth are not publicly disclosed, his diverse business ventures suggest a substantial financial standing. The success of Madhu's, coupled with his investments in property and serviced accommodation, indicates a significant accumulation of wealth. However, without official financial statements or public disclosures, providing an exact net worth remains speculative. Personal life Although not much is known about his personal life, family has played a pivotal role in the evolution of Patel's professional endeavors and Madhu's journey. Sanjay's son, Arjun, represents the fourth generation of the family in the business and is actively involved in its operations. Arjun's passion and dedication have been instrumental in the company's continued success and expansion. Image courtesy: ESPN Uorfi, Jannat, Yashraj, Rahul Dua & More Shine Bright: Creators Who Ruled the Power Creator Awards 2025
