Piyush Goyal proposes a dedicated Swiss Enclave in India at the Swissmem Industry Day

In a compelling address at the Swissmem Industry Day event in Switzerland on Monday, Union Commerce and Industry Minister Piyush Goyal invited Swiss industry leaders to become long-term partners in India's growth journey, positioning the country as a trusted, vibrant, and opportunity-rich destination for global investors, according to a press release published by the Ministry of Commerce and Industry late on Tuesday.

The minister is currently on a five-day tour of Switzerland and Sweden, aimed at deepening India’s strategic and economic engagements with key European partners and promoting trade, investment, and sustainable growth in the two countries. The visit is seen through the lens of India's potential signing of a free trade agreement (FTA) with the European Union imminently, which is seen as a pivotal step towards protecting Indian interests amid the ongoing geopolitical changes. “I am not very concerned about what is happening in the world. I believe it will open up new vistas of opportunities for India,” he said at the event.

Goyal proposed the creation of a dedicated Swiss Enclave in India—a bespoke business zone designed to offer Swiss companies a familiar, supportive environment for expansion. “I come to meet you with the aspirations of 1.4 billion Indians who dream as high as your towering Alps,” he said, pitching India as a natural ally for Swiss entrepreneurs, engineers, and innovators.

India's economic narrative was central to Goyal's remarks. From a $270 billion economy three decades ago to nearly $4 trillion today, the Minister forecasted India's march toward a $30–35 trillion economy by 2047, marking the centenary of its independence. “Democracy, demographic dividend, decisive leadership, and diversity make India a dependable partner,” Goyal told the Swiss audience.

He also framed India as a “Trust and Efficiency Partnership” for Switzerland and other EFTA nations—building on the recently signed India-EFTA TEPA (Trade and Economic Partnership Agreement). The pact, Goyal said, exemplifies a relationship built on mutual confidence, offering a launchpad for greater trade, investment, and technological collaboration.

The Minister made a strong pitch to Switzerland’s small and medium-sized enterprises, urging them to explore India’s infrastructure boom and expanding consumer base. “India has added 80 new airports, doubled port capacity, and built highways that rival those in Germany. Zurich Airport is already part of this journey. There’s room for much more,” he said.

Goyal also highlighted massive state spending: over $125 billion annually on infrastructure, reinforcing the government’s commitment to building physical and digital backbones that facilitate business growth.

With the world’s largest STEM graduate pool, 43% of whom are women, India’s youthful workforce—with an average age 28.4—is another core lever of competitiveness. Goyal said India’s combination of talent, scale, and policy clarity makes it a natural partner for Switzerland’s precision engineering and innovation-led economy.

He further underscored India’s inclusive growth story, citing World Bank figures that show extreme poverty has dropped to 5%, with 270 million people lifted out of poverty in the last 11 years. “India today is a nation on the move, full of opportunity, full of promise,” he added.

Concluding his address with an impassioned call, Goyal invited Swiss industrialists to experience India firsthand. “Come discover India. Come experience Incredible India. Come witness the beauty and transformation of a nation that is emerging from the shadows and claiming its rightful place in the comity of nations.”