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Mint
10-06-2025
- Business
- Mint
India is your next strategic hub, Goyal tells Swiss firms.
New Delhi: Commerce and industry minister Piyush Goyal has urged Swiss companies to boost investments in India, which he said was a burgeoning hub for manufacturing, talent, and innovation, his ministry said on Tuesday. Goyal, currently on a five-day official visit to Switzerland and Sweden aimed at bolstering economic and trade ties with the key European partners, chaired high-level roundtables with Swiss executives across critical sectors, including biotech, health, defence, precision engineering, and emerging technologies. According to the statement, Goyal's discussions centered on forging stronger synergies between Indian and Swiss enterprises. A particular emphasis was on facilitating innovation, technology transfer, and sustainable manufacturing practices, the statement added. Goyal also invited Swiss companies to expand their footprint in India, underscoring the benefits of tapping into the country's rapidly growing consumer base and skilled workforce. The visit, scheduled from June 9 to 13, is also expected to advance negotiations on the long-anticipated India-EFTA (European Free Trade Association) trade agreement. Beyond trade, Goyal's agenda includes exploring new avenues for investment in high-value sectors such as precision engineering, pharmaceuticals, and sustainable technologies, signalling India's ambition to attract sophisticated Swiss expertise and capital. "Goyal assured the leadership of India's unwavering commitment to fostering a conducive business environment through transparent regulatory processes, a robust intellectual property regime, and pro-investment policy frameworks," the statement said. "He encouraged Swiss businesses to explore India not just as a market, but as a strategic hub for manufacturing, talent, and innovation," it added. Goyal is slated to hold sector-specific meetings with global CEOs and senior officials from industries including life sciences and high-tech manufacturing apart from meeting Swiss federal councillor Guy Parmelin, Swiss companies, and Indian industry representatives to push forward discussions on the India-EFTA Trade and Economic Partnership Agreement (Tepa). Goyal's visit comes at a time when India is seeking to push forward stalled trade negotiations with several partners, including those under EFTA, amid a broader geopolitical push to deepen ties with Western democracies and reduce China-dependency in global supply chains. Switzerland, which has a major share of EFTA's total trade with India, is seen as a key player in finalizing a balanced and forward-looking Tepa deal. EFTA comprises Iceland, Liechtenstein, Norway and Switzerland. "The Minister (Goyal) called on Swiss businesses to leverage the dedicated EFTA Desk at Invest India for handholding and facilitation support. He reiterated India's willingness to work towards regulatory harmonization and mutual recognition agreements, highlighting India's proactive stance on building reciprocal bridges to encourage Swiss and Indian investment," the statement said. "Swiss industry leaders across a diverse range of sectors—including biotechnology, precision manufacturing, healthcare, automation, defence, cybersecurity, and advanced materials—expressed strong confidence in India's trajectory as a global economic powerhouse and an innovation-led growth destination," it added. "Several firms indicated an active interest in forming joint ventures, scaling operations, and localizing production to serve both Indian and international markets," the statement said. "From cutting-edge cancer therapies and cell sciences to industrial automation, fibre optics, space technologies, and digital security, Swiss companies underscored their alignment with India's developmental priorities and sectoral growth plans," it added. After concluding engagements in Switzerland, Goyal will travel to Sweden, where he will co-chair the 21st session of the Indo-Swedish Joint Commission for Economic, Industrial and Scientific Cooperation (JCEISC) alongside Swedish Minister for International Development Cooperation and Foreign Trade, Benjamin Dous.
Mint
09-06-2025
- Business
- Mint
Goyal begins visit to Switzerland and Sweden to deepen trade ties, focus on India-EFTA pact
New Delhi: Amid ongoing negotiations for the Bilateral Trade Agreement (BTA) with the US, commerce and industry minister Piyush Goyal on Monday began a five-day official visit to Switzerland and Sweden, aimed at strengthening India's economic and trade ties with key European partners. The visit, which runs from 9 to 13 June, is expected to advance negotiations on the India-EFTA trade agreement and explore new avenues for investment in sectors such as precision engineering, pharmaceuticals, and sustainable technologies, as per a commerce ministry statement. However, the official release does not mention the inclusion of a business delegation with the minister, despite an earlier announcement by Goyal during his address at the CII Business Summit in New Delhi on 29 May, where he had indicated that a delegation of Indian industry leaders would travel with him to explore partnership opportunities. In Switzerland, Goyal will hold sector-specific meetings with global CEOs and senior officials from industries including life sciences and high-tech manufacturing. He is also scheduled to meet federal councillor Guy Parmelin, Swiss companies, and Indian industry representatives to push forward discussions on the India-EFTA Trade and Economic Partnership Agreement (Tepa), which is seen as a critical pillar of India's strategy to diversify trade partnerships and reduce reliance on traditional markets, the statement said. The minister's itinerary includes participation in the Swissmem Industry Day and a roundtable with the Swiss mechanical and electrical industries—sectors in which Switzerland has deep expertise and where India is seeking greater technology partnerships. The visit comes at a time when India is seeking to push forward stalled trade negotiations with several partners, including those under EFTA, amid a broader geopolitical push to deepen ties with Western democracies and reduce China-dependency in global supply chains. Switzerland, which has a major share of EFTA's total trade with India, is seen as a key player in finalising a balanced and forward-looking Tepa deal. After concluding engagements in Switzerland, Goyal will travel to Sweden, where he will co-chair the 21st session of the Indo-Swedish Joint Commission for Economic, Industrial and Scientific Cooperation (JCEISC) alongside Swedish minister for international development cooperation and foreign trade, Benjamin Dousa, the ministry said in the statement. The commission meeting will serve as a platform to review the current economic cooperation and identify new areas of collaboration, the ministry said. In Sweden, bilateral meetings are also lined up with Håkan Jevrell, state secretary to the minister of development cooperation and foreign trade, as well as CEOs of major Swedish firms, including Volvo Group, Ericsson, IKEA, Sandvik, Alfa Laval, and SAAB, the ministry said. Discussions are likely to focus on green technologies, advanced manufacturing, and innovation—areas where Sweden has global leadership and where India is aiming to accelerate its industrial transition.
TimesLIVE
14-05-2025
- Automotive
- TimesLIVE
The war on potholes: what you need to know
Pothole-related damage and rim replacements have more than doubled over the past few years in Gauteng, according to the Tyre, Equipment and Parts Association (Tepa). 'It's officially pothole season thanks to the April rains, and motorists are dodging craters like it's a real-life game of Mario Kart,' said Dylan Petzer, national vice chair of Tepa. Apart from posing a serious road safety threat, hitting a pothole can lead to expensive car repairs. It's not only tyres that take the hit, and Petzer noted that in about 80% of cases it's the rim that is bent, cracked or wrecked. Rim damage can also impact a car's alignment and suspension, and that's when things go from annoying to expensive. But what is being done against the scourge of the dreaded wheel-busting holes on our roads? According to the SA National Roads Agency (Sanral), the Vala Zonke national pothole campaign has made meaningful progress in tackling deteriorating road infrastructure but remains underutilised. Launched in 2022 by the department of transport and overseen by Sanral, the programme tackles deteriorating road infrastructure. A joint effort by the nine provinces, the campaign aims to standardise and simplify the way potholes are reported by the public and repaired by road authorities through a centralised electronic system and a dedicated Vala Zonke app available on smart phones. When the project was launched, then-transport minister Fikile Mbalula said the road infrastructure maintenance backlog was estimated to be more than R200bn, and 40% of the provincial network was reported to have reached the end of its life cycle. It's estimated 80% of the national road network is older than its 20-year design life, Mbalula said. The Vala Zonke app allows road users to report potholes directly from their phones. Each report is geotagged to aid in reduced response and repair times by the Vala Zonke War Room, a centralised operations hub that monitors the reports and ensures each pothole is assigned to the correct road authority for action. There more than 250 road authorities in SA. Despite the successful launch of the Vala Zonke app, it remains underutilised, according to a Sanral spokesperson. 'This limits the war room's ability to maintain full oversight of reported potholes. To date, 120,123 potholes have been officially logged through the app, a number that likely represents only a fraction of the actual potholes on roads due to limited app engagement. A large number of potholes remain unreported in the poorer residential areas due to lack of access to data to report.' The gap in reporting highlights the importance of greater participation from the public and road authorities, both in using the app and in integrating other reporting systems into the Vala Zonke platform. 'Encouragingly, provincial authorities have repaired more than four million square meters of paved road surfaces, showing clear commitment to addressing the crisis. However, accurate data remains critical for prioritising repairs, allocating resources efficiently,and holding stakeholders accountable. We urge citizens and municipalities to make full use of the Vala Zonke app so every pothole can be tracked, reported and repaired,' he said. A challenge hindering the programme's full potential is the lack of training among some road authorities in using the secure systems provided to report back to the war room. 'In many cases, repairs are being completed on the ground, but the status updates are not submitted through the correct channels, leading to data gaps and an incomplete national picture.' Additional obstacles include inadequate funding and the lack of skills, leading to poor workmanship. The latter often results from inadequate preparation of potholes before filling, and such shortcuts can lead to premature failure of repairs which undermines road safety and wasting valuable resources, said Sanral. Sanral is advocating the use of nanotechnology to strengthen road surfaces and extend their lifespan at reduced road repair costs. It has developed a standard named TRH24 and is providing training to road authorities across the country.
