How is Piyush Goyal Enhancing Ties with Swiss Machinery, Electrical & Metal Industry?

Berne, June 10 (NationPress) Commerce and Industry Minister Piyush Goyal on Tuesday co-chaired a highly productive Business Roundtable focusing on the Machinery, Electrical & Metal (MEM) sector alongside Swiss Federal Councillor Guy Parmelin.

During the meeting, Goyal emphasized the importance of enhancing innovation, fostering partnerships, and implementing joint workforce training initiatives with Parmelin, who leads Switzerland’s Federal Department of Economic Affairs, Education and Research (EAER).

"We also aimed at unlocking fresh investment opportunities following the operationalization of the India-EFTA TEPA," Goyal mentioned in a statement on X.

The Minister oversaw two focused discussions with industry leaders from Switzerland, addressing sectors such as biotech & pharma, healthcare, precision engineering, defence, and emerging technologies. These sessions showcased India's vast scale, affordability, and burgeoning innovation ecosystem.

Goyal urged Swiss enterprises to utilize the dedicated EFTA Desk at Invest India for comprehensive support and facilitation. He reiterated India's proactive commitment to regulatory harmonization and mutual recognition agreements, aiming to strengthen the investment ties between Swiss and Indian businesses.

Additionally, the Commerce Minister witnessed the signing of a Memorandum of Understanding (MoU) between the Indian business chamber ASSOCHAM and Swissmem, aimed at enhancing industrial collaboration, promoting innovation, growth, and skill enhancement.

Swissmem stands as the foremost association for SMEs and large corporations within Switzerland's technology sector, encompassing mechanical and electrical engineering and related fields.

The MoU’s objective extends to cooperation in areas such as technical transfer, economic cooperation, investment opportunities, trade fairs, exhibitions, policies, and economic legislation relevant to the foreign trade of both nations.

Both organizations will support each other in exchange programs for trade missions, project study groups, and linkage facilitation for import, export, trade, and investment.

Cooperation areas also include exploring and arranging joint activities to promote trade and investment opportunities for the benefit of members from both associations.

In addition to industry discussions, Goyal also met with members of the Switzerland Chapter of the Institute of Chartered Accountants of India (ICAI). He commended the chapter for its contributions and for maintaining the high standards and global reputation of the ICAI, while enhancing the India–Switzerland professional and business ecosystem.