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India keen on Swiss model of skill development: PM Modi
Prime Minister Narendra Modi on Monday said that India wants to have manufacturing of global standards and Swiss model of skill development, which are very relevant for the country.
New Delhi : Prime Minister Narendra Modi on Monday said that India wants to have manufacturing of global standards and Swiss model of skill development, which are very relevant for the country.
The Prime Minister, who was speaking at the delegation-level talks with Switzerland President Johann Schneider Ammann in Geneva, laid firm emphasis on "making two or three Switzerlands in India" to create scope for partnership between the two sides.
"India is not just a market of 1.25 billion but also have skills and a government open to business," said Prime Minister Modi.
"The economic links between our two countries are strong and vibrant, and we see a perfect connect between our development needs and Swiss strengths. I invite Swiss companies to partner India's economic growth," he added.
Discussing issues of mutual interests, including trade investments, energy and infra structure sectors, besides India's membership in the Nuclear Suppliers Group (NSG) and black money, he informed the Swiss watch industry that diamonds on Swiss watches come from Gujarat, which will intensify the scope of partnership.
India and Switzerland have had cordial and friendly relations since India's independence. Exchange of high-level visits in the recent past has provided an impetus to strengthen bilateral cooperation.
With growing bilateral trade and foreign investment, India and Switzerland enjoy strong economic ties.
Swiss-India bilateral trade nearly tripled from USD 1.6 billion in 2004 to USD 4.5 billion in 2011 even as the balance of trade has remained in favor of Switzerland.
From April 2000 to September 2015, Switzerland invested as FDI approximately USD 3.18 billion in India, thus becoming the 11th largest investor and accounting for about 1.2 percent of total FDI in India during this period.
