Col. Rajyavardhan Rathore’s Switzerland Visit Takeaways:
Swiss Companies Express Interest in Rail Electrification, Cooperation on Pharma.
Jaipur- 4th September
Ahead of the ‘Rising Rajasthan’ Global Investment Summit 2024, Col. Rajyavardhan Rathore, Minister for Industries and Commerce, Government of Rajasthan, recently visited Switzerland and invited the Swiss companies to invest in Rajasthan. Minister had a very fruitful discussion with a number of Swiss companies ranging from Electromobility players to biopharma companies on his three-day visit during 26th-28th August. The companies dealing with rail electrification and manufacturing such as Furrer+Frey and Schwihag also discussed the possibility of securing a land parcel of 20 acres in the vicinity of a rail line in Rajasthan.
Talking about the visit, Col. Rajyavardhan Rathore, Minister for Industry and Commerce, said, “I am happy to note that a number of Swiss companies consider Rajasthan as one of the most prospective states from investment point of view. Rajasthan is going to facilitate the business at the cheapest cost and enhance ease of doing business further by providing land and other basic infrastructure. This is the time to be in Rajasthan. No investment decision or file will wait at the government’s end, and we will ensure that the industries are in a position to expand their business at the fastest pace possible.”
Rathore’s visit assumes critical significance considering India sealed its Trade and Economic Partnership Agreement (TEPA) with the countries of the European Free Trade Association (EFTA), of which Switzerland is a dominant pillar. Rathore touched base with critical industries including companies involved with Rail Electrification & Manufacturing, Biopharma, Agri-Processing, Freight Transport, Artificial Intelligence (AI) among others.
Rathore also visited a unit of pharma company, Ferring Pharmaceuticals, that manufactures drugs in the area of maternal health. He held discussions on access of crucial drugs to Indian women and explored the possibility of the company setting up its base in Rajasthan.
*Swiss Companies’ Ask: Product Specific Dedicated Industrial Zone, Single Point of Contact in Rajasthan*
Minister Col. Rathore-led delegation got the feedback of setting up product-specific Dedicated Industrial Zones and special officers as single Point of Contact (PoC) to facilitate the investment plans of Swiss companies. The government is reportedly considering the possibilities of accommodating these issues.
*Importance of Col. Rathore’s Visit in the Light of US$100 billion Investment Commitment by EFTA nations*
India had signed the Trade and Economic Partnership Agreement (TEPA) with EFTA nations in March this year. After signing TEPA, Shri Piyush Goyal, Union Minister of Commerce and Industry, had said that for the first time in the history of FTA, a binding commitment of US$100 billion investment and creation of 10 lakh direct jobs in the next 15 years has been mentioned in the agreement.
The Switzerland visit of Col. Rathore must be seen in this light as in the wake of EFTA’s binding commitment of US$100 billion investment in India, the visit has the potential to set the template for the upcoming investment by Swiss companies not only in Rajasthan but across several states in India.
*About ‘Rising Rajasthan’ Global Investment Summit 2024*
The Government of Rajasthan, under Rajasthan Chief Minister Bhajan Lal Sharma, is preparing for the upcoming ‘Rising Rajasthan’ Global Investors’ Summit 2024 in Jaipur scheduled on 9th, 10th, and 11th December later this year. So far, Rajasthan has signed the investment MoUs worth INR 4.5 lakh crore at its Mumbai Investors’ Roadshow held last month.
