Swiss companies set sights on India as US$100 billion trade pact promises more opportunities

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ZURICH: Investments in India by Swiss companies such as engineering group ABB and transport firm Kuehne+Nagel are on the rise, with a US$100 billion regional trade deal expected to further open it up to businesses long geared towards China.

India's appeal has already reflected a broader shift among businesses in Europe eager to balance the costs of a US-China trade spat and recognition that the Chinese economy is, by comparison to India, losing steam.

To meet demand, ABB has been building factories, offices and showrooms in India, with eight projects completed since 2023, increasing its workforce from 6,000 to 10,000 since 2020. The pact still requires parliamentary approval, and is expected to become effective in either late 2025 or early 2026. In return for EFTA-based firms investing US$100 billion over 15 years - which aims to create 1 million jobs - India has promised to provide a favourable investment climate.

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