Swiss solar energy, aviation cos look to invest in India

Swiss companies in areas such as solar energy and aviation are expected to invest in India following the country's decision to further open up its economy to foreign investments.

A senior minister from Switzerland said here that companies from that country have expressed willingness to make more investments in India and its move to open up the domestic market further to FDI is a good move.

"Market opening (up) would be a good thing for India. You are still a very closed market... We believe in open markets," Swiss Minister for Environment, Transport, Energy and and Communications Doris Leuthard said.

Unveiling big bang reforms to boost the sagging economy, India last month cleared 51 per cent FDI in multi-brand retail besides giving green signal to overseas carriers for making 49 per cent investment in the aviation sector.

Leutherhad, who completed her three-day visit to India on Saturday, said that open markets would help in bringing more competition.

She indicated that Swiss carriers would be willing to explore opportunities in the Indian aviation sector.

"We have a lot of airlines... I don't see why one should waste a moment when there are opportunities," she said.

According to her, India has a big potential in the solar energy area as well, and Swiss companies are looking to make more investments in this sector.

Leutherhad also noted that Switzerland has been negotiating a free trade agreement with India for sometime.

Trade between the two nations was about USD 4.8 billion last year and is expected to increase fast in the coming years.

ALSO READ

Jet fuel prices (ATF) cut by a steep 5.3%, airlines mum on airfare reduction

Price of non-subsidized cooking gas cut by Rs 54 per cylinder

Petrol price cut by Rs 3, steepest rate cut in 5 years

DGH wants RIL to give up 86% of KG-D6 area