Telangana government has set up a dedicated desk in the Invest Telangana cell to serve as a single window for firms from Switzerland and other EFTA countries planning to invest in India.
IT and Industries Minister D.Sridhar Babu announced the opening of the dedicated desk at a TEPA Investment event organised by Confederation Suisse and Switzerland Innovation in Zurich on January 24. The development comes in the backdrop of the free trade agreement India and EFTA countries, which are Switzerland, Norway, Iceland and Liechtenstein, signed in March 2024. The FTA is named Trade and Economic Partnership Agreement (TEPA).
As TEPA gets ratified by EFTA member countries and becomes operational this year, Telangana is ready to position itself as a preferred investment destination for companies from EFTA countries. The State government will actively pursue closer engagements with EFTA countries in close collaboration with their embassies and trade missions in India as well as Indian Missions in these countries, Mr.Sridhar Babu’s office said in a release on Saturday.
Telangana remains focused on positioning itself at the heart of global business and innovation, driving transformative growth and creating boundless opportunities for investments and partnerships in new technologies and industry sectors like aerospace and defence, electronics, energy storage, electric vehicles and advanced manufacturing, the Minister said.
“Telangana is a global leader in IT and Life Sciences and enjoys strong economic linkages with EFTA block. Many Swiss companies like Novartis, Roche, UBS and Swiss Re have a strong presence in Hyderabad,” he told the programme.
EFTA countries have committed to invest nearly 100 billion euros in India over the next 15 years and generate 1 million jobs. The business event organised at the Zurich Innovation Park was aimed at raising awareness about TEPA and showcase Telangana as an attractive investment destination for Swiss companies, his office said.
Published – January 25, 2025 11:46 pm IST
