Bilateral trade between Switzerland and India is expected to touch $6 -7 billion by 2015, Linus von Castelmur Ambassador of Switzerland to India and Bhutan said on Friday.

According to him, the two-way trade stood at $4.8 billion in 2011.

“Switzerland’s export to India was worth $3.3 billion and India’s export to our country recorded $1.5 billion,” Castelmur said.

Pharmaceuticals, textiles, jewellery and chemicals accounted for a large chunk of trade between the two countries, he added.

IT exports

Of India’s total export to Switzerland, IT and software services were worth nearly $0.5 billion, Castelmur said. He pointed out that Indian exports grew at a faster pace than Swiss exports.

“While export from India to Switzerland witnessed a 29 per cent rise, Switzerland reported 16 per cent growth in its export to India,” he said.

Visa norms

Castelmur said his country was lenient in issuing visas to Indian nationals. Switzerland issued 90,000 visas to Indians in 2011.

Flight to Zurich

Castelmur said the Switzerland was planning to introduce one more direct flight between Mumbai and Zurich. Currently, two direct flights operate to Zurich – one each from Delhi and Mumbai.

“We have already planned for a second direct flight to Zurich from Mumbai. It’s subject to the Airports Authority of India’s permission now,” he added.

ayan.pramanik

@thehindu.co.in

(This article was published in the Business Line print edition dated August 4, 2012)
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