Latest news with #Swissmem
India Gazette
2 days ago
- Business
- India Gazette
Indian and Swiss business chambers sign strategic partnership agreement to boost trade relations
Bern [Switzerland], June 11 ( ANI): The Associated Chambers of Commerce and Industry of India (ASSOCHAM) and Swissmem -- Switzerland's leading mechanical and electrical engineering industries association -- have formalised a three-year partnership agreement aimed at strengthening business cooperation between the two nations. The Memorandum of Understanding (MoU) was signed on Tuesday at the Swissmem Industry Day in Bern. It establishes a comprehensive framework for enhanced trade relations, technology transfer, and investment opportunities between Indian and Swiss companies. Commerce Minister Piyush Goyal just completed his two-day visit to Switzerland. His next trip is to Sweden. The Indo-Swiss partnership encompasses several key areas of collaboration designed to benefit member companies from both organisations. The agreement enables both chambers to exchange crucial market intelligence, including information on trade opportunities, investment prospects, economic policies, and foreign trade legislation affecting both countries. The partnership will facilitate technology transfer initiatives and joint ventures between Indian and Swiss companies, particularly in the mechanical and electrical engineering sectors where Swissmem members excel. Both the industry bodies commit to supporting trade missions, study groups, and mutual participation in industrial exhibitions and trade fairs, helping member companies establish direct business connections. The MoU provides for joint workshops, technical seminars, and conferences that will showcase new products and emerging technologies to business communities in both countries. ASSOCHAM, headquartered in New Delhi, represents one of India's most influential business advocacy organizations, while Swissmem serves as the voice of Switzerland's precision engineering and technology sectors. The partnership comes at a time when both countries are seeking to diversify their trade relationships and strengthen economic ties. 'This agreement creates a structured platform for our member companies to explore new markets and forge meaningful business partnerships,' said a representative familiar with the negotiations. The framework is expected to be particularly beneficial for small and medium enterprises looking to expand internationally. The partnership includes robust provisions for intellectual property protection, with any jointly developed IP to be co-owned by both parties. Confidentiality protocols ensure sensitive business information shared through the collaboration remains protected for up to three years post-agreement. The MoU establishes clear guidelines for joint branding and promotional activities, requiring written approval for the use of organizational logos in collaborative initiatives. All specific projects under the agreement will be governed by separate detailed contracts addressing financial arrangements and implementation procedures. The agreement is valid through June 2028 and can be renewed by mutual consent. Either party may terminate the partnership with three months' written notice, though termination would not affect ongoing projects initiated under the framework. Both organisations have committed to resolving disputes through mutual consultation, emphasising the partnership's collaborative spirit. The non-binding nature of the agreement provides flexibility while establishing clear expectations for cooperation. (ANI)
Time of India
2 days ago
- Business
- Time of India
Indian and Swiss business chambers sign strategic partnership agreement to boost trade relations
The Associated Chambers of Commerce and Industry of India ( ASSOCHAM ) and Swissmem -- Switzerland's leading mechanical and electrical engineering industries association -- have formalised a three-year partnership agreement aimed at strengthening business cooperation between the two nations. The Memorandum of Understanding (MoU) was signed on Tuesday at the Swissmem Industry Day in Bern. It establishes a comprehensive framework for enhanced trade relations, technology transfer, and investment opportunities between Indian and Swiss companies. Commerce Minister Piyush Goyal just completed his two-day visit to Switzerland. His next trip is to Sweden. The Indo-Swiss partnership encompasses several key areas of collaboration designed to benefit member companies from both organisations. The agreement enables both chambers to exchange crucial market intelligence, including information on trade opportunities, investment prospects, economic policies, and foreign trade legislation affecting both countries. Live Events The partnership will facilitate technology transfer initiatives and joint ventures between Indian and Swiss companies, particularly in the mechanical and electrical engineering sectors where Swissmem members excel. Both the industry bodies commit to supporting trade missions, study groups, and mutual participation in industrial exhibitions and trade fairs, helping member companies establish direct business connections. The MoU provides for joint workshops, technical seminars, and conferences that will showcase new products and emerging technologies to business communities in both countries. ASSOCHAM, headquartered in New Delhi, represents one of India's most influential business advocacy organizations, while Swissmem serves as the voice of Switzerland's precision engineering and technology sectors. The partnership comes at a time when both countries are seeking to diversify their trade relationships and strengthen economic ties. "This agreement creates a structured platform for our member companies to explore new markets and forge meaningful business partnerships," said a representative familiar with the negotiations. The framework is expected to be particularly beneficial for small and medium enterprises looking to expand internationally. The partnership includes robust provisions for intellectual property protection, with any jointly developed IP to be co-owned by both parties. Confidentiality protocols ensure sensitive business information shared through the collaboration remains protected for up to three years post-agreement. The MoU establishes clear guidelines for joint branding and promotional activities, requiring written approval for the use of organizational logos in collaborative initiatives. All specific projects under the agreement will be governed by separate detailed contracts addressing financial arrangements and implementation procedures. The agreement is valid through June 2028 and can be renewed by mutual consent. Either party may terminate the partnership with three months' written notice, though termination would not affect ongoing projects initiated under the framework. Both organisations have committed to resolving disputes through mutual consultation, emphasising the partnership's collaborative spirit. The non-binding nature of the agreement provides flexibility while establishing clear expectations for cooperation.
Times of Oman
2 days ago
- Business
- Times of Oman
India's story - in 30 years from $270 billion to $4 trillion: Piyush Goyal
Bern: Union Commerce and Industry Minister Piyush Goyal on Tuesday highlighted India's remarkable economic performance, stating that the country has surged from a $270 billion economy to $4 trillion in just three decades. Addressing the Swissmem Industry Day in Switzerland, Goyal said India aspires to be a USD 30-35 trillion economy by the time the country marks 100 years of independence. He said this provides "largest ever economic opportunity in the world". "I bring a story of a country that in the last 30 years has grown from a 270 billion dollar economy to a 4 trillion dollar economy today. As we work towards celebrating India's 100 years of independence, it aspires to grow from a 4 trillion dollar economy to a 30-35 trillion dollar economy," the Minister said. "That's the largest ever economic opportunity... Our average age is only 28.4 years. For the next 30 years, India will continue to be a young country. This talent, skillset and desire for a better future drive India as the fastest-growing large economy today," he added. Goyal also spoke about the significant opportunity for businesses of Switzerland in India, emphasising the supportive environment in the country. "I believe a new era of partnership, friendship and togetherness between the four (European Free Trade Association) EFTA nations - Switzerland, Norway, Liechtenstein and Iceland, and India is going to begin in is officially called the Trade and Economic Partnership Agreement, but I look upon this as the Trust and Efficiency Partnership Agreement," he said. "We draw a lot of inspiration from your journey. We believe it is a very natural partnership... We can add huge value to the future of members of Swissmem and the business community. I leave it to the Swiss companies to decide. I have requested the president of Swissmem and also the government of Switzerland to engage with their industry and identify where they would like us to look at a Swiss enclave if they are decided so far," he added. Goyal also talked of India's growing ties with the United States. He said Prime Minister Narendra Modi and President Trump met in February 2025 and the two countries have decided to enter into a bilateral trade agreement that will be mutually beneficial for both the economies. The minister began his Switzerland visit with a lunch interaction with CEOs of select Swiss companies and prospective investors who are exploring investment possibilities in India. Goyal held extensive engagements with Swiss industry leaders yesterday in Bern, Switzerland, aimed at deepening economic cooperation and exploring new avenues under the recently signed Trade and Economic Partnership Agreement (TEPA) between India and the European Free Trade Association.
India Gazette
3 days ago
- Business
- India Gazette
in 30 years from 270 billion to 4 trillion dollars: Piyush Goyal
Bern [Switzerland], June 10 (ANI): Union Commerce and Industry Minister Piyush Goyal on Tuesday highlighted India's remarkable economic performance, stating that the country has surged from a USD 270 billion economy to USD 4 trillion in just three decades. Addressing the Swissmem Industry Day in Switzerland, Goyal said India aspires to be a USD 30-35 trillion economy by the time the country marks 100 years of independence. He said this provides 'largest ever economic opportunity in the world'. 'I bring a story of a country that in the last 30 years has grown from a 270 billion dollar economy to a 4 trillion dollar economy today. As we work towards celebrating India's 100 years of independence, it aspires to grow from a 4 trillion dollar economy to a 30-35 trillion dollar economy,' the Minister said. 'That's the largest ever economic opportunity... Our average age is only 28.4 years. For the next 30 years, India will continue to be a young country. This talent, skillset and desire for a better future drive India as the fastest-growing large economy today,' he added. Goyal also spoke about the significant opportunity for businesses of Switzerland in India, emphasising the supportive environment in the country. 'I believe a new era of partnership, friendship and togetherness between the four (European Free Trade Association) EFTA nations - Switzerland, Norway, Liechtenstein and Iceland, and India is going to begin in is officially called the Trade and Economic Partnership Agreement, but I look upon this as the Trust and Efficiency Partnership Agreement,' he said. 'We draw a lot of inspiration from your journey. We believe it is a very natural partnership... We can add huge value to the future of members of Swissmem and the business community. I leave it to the Swiss companies to decide. I have requested the president of Swissmem and also the government of Switzerland to engage with their industry and identify where they would like us to look at a Swiss enclave if they are decided so far,' he added. Goyal also talked of India's growing ties with the United States. He said Prime Minister Narendra Modi and President Trump met in February 2025 and the two countries have decided to enter into a bilateral trade agreement that will be mutually beneficial for both the economies. The minister began his Switzerland visit with a lunch interaction with CEOs of select Swiss companies and prospective investors who are exploring investment possibilities in India. Goyal held extensive engagements with Swiss industry leaders yesterday in Bern, Switzerland, aimed at deepening economic cooperation and exploring new avenues under the recently signed Trade and Economic Partnership Agreement (TEPA) between India and the European Free Trade Association. (ANI)
Time of India
3 days ago
- Business
- Time of India
India's story - in 30 years from 270 billion to 4 trillion dollars: Piyush Goyal
Union Commerce and Industry Minister Piyush Goyal on Tuesday highlighted India's remarkable economic performance, stating that the country has surged from a USD 270 billion economy to USD 4 trillion in just three decades. Addressing the Swissmem Industry Day in Switzerland, Goyal said India aspires to be a USD 30-35 trillion economy by the time the country marks 100 years of independence. He said this provides "largest ever economic opportunity in the world". "I bring a story of a country that in the last 30 years has grown from a 270 billion dollar economy to a 4 trillion dollar economy today. As we work towards celebrating India's 100 years of independence, it aspires to grow from a 4 trillion dollar economy to a 30-35 trillion dollar economy," the Minister said. "That's the largest ever economic opportunity... Our average age is only 28.4 years. For the next 30 years, India will continue to be a young country. This talent, skillset and desire for a better future drive India as the fastest-growing large economy today," he added. Live Events Goyal also spoke about the significant opportunity for businesses of Switzerland in India, emphasising the supportive environment in the country. "I believe a new era of partnership, friendship and togetherness between the four (European Free Trade Association) EFTA nations - Switzerland, Norway, Liechtenstein and Iceland, and India is going to begin in is officially called the Trade and Economic Partnership Agreement, but I look upon this as the Trust and Efficiency Partnership Agreement," he said. "We draw a lot of inspiration from your journey. We believe it is a very natural partnership... We can add huge value to the future of members of Swissmem and the business community. I leave it to the Swiss companies to decide. I have requested the president of Swissmem and also the government of Switzerland to engage with their industry and identify where they would like us to look at a Swiss enclave if they are decided so far," he added. Goyal also talked of India's growing ties with the United States. He said Prime Minister Narendra Modi and President Trump met in February 2025 and the two countries have decided to enter into a bilateral trade agreement that will be mutually beneficial for both the economies. The minister began his Switzerland visit with a lunch interaction with CEOs of select Swiss companies and prospective investors who are exploring investment possibilities in India. Goyal held extensive engagements with Swiss industry leaders yesterday in Bern, Switzerland, aimed at deepening economic cooperation and exploring new avenues under the recently signed Trade and Economic Partnership Agreement (TEPA) between India and the European Free Trade Association.
