With a population of over 1.25 billion, India is not only the most populous parliamentary democracy in the world, it is also Switzerland’s most important trading partner in South Asia, and its fourth most important in Asia as a whole. In 2015 the Indian economy grew by 7.2 per cent (IMF figures), and is projected to increase by a further 7.4 per cent in 2016. It can be assumed, therefore, that the country will continue to gain in importance in the coming years. Thanks to improved socioeconomic conditions and a dynamic and continually expanding urban middle class, it is most likely that the number of Indian tourists visiting Switzerland will also continue to rise.
Representatives of the EFTA Parliamentary Committee, headed by Thomas Aeschi, member of the National Council (SVP/ZG), first met key economic players in Mumbai and Pune, before holding talks on closer bilateral economic relations with members of the Lok Sabha and Rajya Sabha – the lower and upper houses of parliament – and with officials from the Ministry of Commerce and Industry in Delhi.
In talks with representatives of the Committee on Commerce and Industry and the Committee on External Affairs of both chambers of parliament, the representatives of the EFTA Parliamentary Committee reiterated the interest of the EFTA states – Iceland, Liechtenstein, Norway and Switzerland – in resuming negotiations on a comprehensive trade and economic partnership agreement with India. The delegation also had the opportunity of talking to Anita Praveen, Joint Secretary of the Ministry of Commerce and Industry, and Akilesh Ranjan, Joint Secretary of the Ministry of Finance, about the challenges in economic and financial cooperation.
The delegation was able to form a picture of the business potential for the Swiss economy in India in visits to several companies, including an international provider of IT services, consultancy services and business solutions working for one of the large Swiss banks in Mumbai, an internationally active Swiss manufacturer of machines and installations for the packaging industry and the service centre of a Swiss financial services provider in Pune. India is attractive to Switzerland for a number of reasons: as a market and production location, a source of components, and a place to which business processes can be outsourced.
In view of the successful conclusion of the TPP (Trans-Pacific Partnership) and the current negotiations on the TTIP (Transatlantic Trade and Investment Partnership) between the EU and the USA, it is in both India’s and Switzerland’s interests to remain part of the global value-added chain. The delegation believes, therefore, that it is essential to underline at the highest political level Switzerland’s desire not only to resume discussions on a comprehensive free trade agreement with India in the immediate future, but also to rapidly conclude the negotiations launched back in 2008.
The delegation was headed by Thomas Aeschi (SVP/ZG), chair of the Swiss Delegation to the EFTA Parliamentary Committee/EU, and further included National Council members Kathy Riklin (CVP/ZH) and Hans-Peter Portmann (FDP/ZH). The delegation was accompanied by Cédric Stucky, Secretary of the EFTA/EU delegation.
Official welcome for the representatives of the EFTA/EU Delegation; National Council members Thomas Aeschi (Delegation president), Kathy Riklin and Hans-Peter Portmann, at the residence of the Swiss Ambassador to India, Mr Linus von Castelmur.
Thomas Aeschi, President of the EFTA/EU Delegation, welcoming business and civil society representatives to the Swiss Ambassador’s residence in New Delhi.
Bern, 15 February 2016 Parliamentary Services