2 hrs ago
Modi Targets $100 Billion Swiss Investment and Jobs
India and Switzerland are working to strengthen their economic relationship.
Prime Minister Narendra Modi met Swiss President Guy Parmelin in New Delhi.
Modi said India aims to attract $100 billion in investment from Switzerland over the next 15 years.
He also said the goal includes creating 10 lakh direct jobs in India.
The leaders discussed ways to make it easier for businesses to trade and invest.
Indian exports such as medicines, textiles and engineering goods may benefit from expanded market access.
India also hopes to attract Swiss investment in areas including biotechnology, banking and food processing.
The countries said they would continue cooperating on international issues.
Prime Minister Narendra Modi said India aims to attract $100 billion in Swiss investment over 15 years.
The target also includes creating 10 lakh direct jobs in India during that period.
Modi made the remarks after talks with Swiss President Guy Parmelin in New Delhi.
The leaders discussed expanding trade, investment, mobility and cooperation on critical technologies.
Measures to expand market access are expected to support Indian agricultural, pharmaceutical, textile and engineering exports to Switzerland.
- Who
- Indian Prime Minister Narendra Modi and Swiss President Guy Parmelin.
- What
- They discussed bilateral cooperation, including a target of $100 billion in Swiss investment and 10 lakh direct jobs in India over 15 years.
- Where
- Hyderabad House, New Delhi.
- When
- Monday; the investment and jobs target covers the next 15 years.
- Why
- To strengthen cooperation in trade, investment, mobility and critical technologies, and to expand market access.
Key facts
- Investment target
- $100 billion in Swiss investment in India
- Jobs target
- 10 lakh direct jobs
- Target period
- The next 15 years
- Meeting location
- Hyderabad House, New Delhi
- Trade agreement
- India-European Free Trade Association Trade and Economic Partnership Agreement, implemented last year
- Export sectors cited
- Agriculture, pharmaceuticals, textiles and engineering goods
- Potential investment sectors cited
- Biotechnology, life sciences, banking, insurance, food processing and sustainability
Quotes
Narendra Modi
Prime Minister of India
“People-to-people ties are the biggest strength of our partnership. With the Migration & Mobility Partnership Agreement as well as the Young Professionals Agreement, several new opportunities will come up for Indian students, researchers, professionals and the youth, in Switzerland.”
thestatesman.com
firstpost.com
“This is also an ambitious blueprint of investment, innovation, jobs and mutual prosperity. With this, we will realise 100 billion dollars investment and 10 lakh direct jobs in India in the next 15 years.”
thestatesman.com
firstpost.com
Sources
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