The Hindu Business Line : `Switzerland a good hub for Indian corporates'

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Hyderabad Feb. 14 After big pharma majors such as Novartis and Roche, small and medium enterprises from Switzerland, could well find India a big opportunity to fuel their growth, Mr Dominique Dreyer, the Swiss Ambassador to India has said.

Big advantages such as innovations, large pool of engineers, researchers, in addition to qualified and cost-competitive workforce, clearly provide Swiss firms the necessary ingredients to tap the potential in India, he told Business Line here.

In pharma, textiles, biotechnology, Information Technology and a host of emerging areas, the SMEs back home will stand to gain through collaborations . Ensuring protection of Intellectual Property Rights (IPR), is what the Indian Government needs to give confidence, Mr Dreyer, who was here in connection with the Investment Conference on Switzerland said. A 14 company, Swiss delegation, from the railways sector is already in India trying to hardsell their hitech products.

They would be discussing with the Indian Railways in the coming days in New Delhi. The focus in on products such as sensors and high voltage transmission, the Ambassador said.

Mr Dreyer also said Swiss textile machinery manufacturers, banks and pharma companies were also looking to India for outsourcing opportunities in the near future.

For Indian corporates, Switzerland offers an excellent scope to set up their key operations, with the benefit of accessing the lucrative European markets. Already, over 200 multinational corporations have their headquarters in cities such as Geneva and Zurich, Mr Dreyer said.

While London has been perceived as the `hub' for Indian companies looking Europe, the Ambassador felt that the tax incentives, skilled workforce and sound social security system should be lucrative for Indian companies to consider Switzerland as a hub. On Bollywood being weaned away by other European countries, Mr Dreyer said: "We are not worried, as the landscape, mountains and the fully organised facilities will stand us in good stead".

He quoted an Indian actor who said it wascheaper to shoot films in Switzerland than in India. This he said was because everything is well organised there. A company facilitates and simplifies everything for Bollywood. Indian films have made a good impact. Indian tourists have grown by 30 per cent last year he added.

Switzerland's economy relies on foreign trade and close links with emerging economies is in our interest. Therefore, India and China are high on our radar. Bilateral trade is growing well but the potential is enormous, Mr Dreyer said.