Switzerland woos Indian companies

Aiming at major foreign investments from India in Switzerland, the Swiss government promises the 40,000- sq km huge country to be a major trading hub for Indian companies in the next 10-12 years. 

Through an official programme called LOCATION Switzerland, the government is meeting with Indian business representatives and industry bodies to invite more Indian companies to set up offices there.

"A delegation of Canton representatives, lawyers and consultancy experts from Switzerland under the LOCATION Switzerland programme is meeting Indian companies across sectors and industry bodies to attract foreign investment and invite them to set up their offices there. Through a similar exercise in various countries, we hope to see around 400 new foreign companies coming to Switzerland in all in the coming years," said Beatrice Maser Mallor, head - LOCATION Switzerland, and State Secretariat for Economic Affairs.

According to Mallor, currently there are approximately 30 identified Indian companies in Switzerland, with most of them in IT and pharma sectors. 

Facilities like strong IPR regimes and complementary incubation centres will boost IT and pharma companies from India, she said.

"Since after incorporation every company becomes Swiss and a lot of confidentiality is provided to them, it is difficult to figure out the exact number of Indian companies.  However, we hope to see a lot of Indian companies engaged in nanotechnology, biotechnology and microtechnology setting up offices.  For them, Switzerland will be a major R&D hub in the coming years," added Mallor.

Under the programme, the delegation is visiting around 6-7 Indian cities including Bangalore, Hyderabad, Ahmedabad, Mumbai, Pune and Delhi. In May 2008, another delegation from the programme will be meeting state government representatives.