Impact of Switzerland's investment on India...
Switzerland's revocation of MFN status to india may also affect India's trade and investment. Trade figures between india and switzerland show that in 2021, the trade between the two countries was $30.8 billion, of which india imported $29.5 billion and exported $1.2 billion. The major commodities coming to india from switzerland are gold and silver, chemicals, medicines, and engineering goods, while india exports organic chemicals, pearls, precious gems, and clothing to Switzerland.
If the investment coming to india from switzerland decreases, it could be a major setback for the indian economy, especially in sectors where swiss companies have made significant investments. Under the european Free Trade Association, the four swiss countries had set a target of investing $100 billion in India. If business facilities and tax relief are reduced in switzerland, this investment may be affected.
Switzerland's investment has increased
Switzerland's investment in india has increased steadily in the last few years. Currently, the country's investment in india has reached US$ 9.77 billion, and this investment has been made mainly in sectors like IT, life sciences, chemicals, and engineering. Many major indian companies, which have investments in switzerland, are currently working in 179 places. These companies may face a reduction in profits due to Switzerland's decision, and they may reconsider their investment.
click and follow Indiaherald WhatsApp channel