Diplomatist Magazine Diplomatist January 2019 | Page 41

INSIDE EUROPE
issues. Additional to that there have been regular bilateral
But more important than trade is the fi eld of bilateral
ministerial exchanges, foreign secretary and secretary
investments. In one and a half decade after the beginning of
visits which eff ected in close cooperation on exchange of
the new millennium, Switzerland invested more than three
information relating to tax and black-money.
billion US Dollars in India. Counting all investments that
High-level Indian delegations have participated in the
are routed through other countries, the fi gure doubled to 7
World Economic Forum (WEF) since the early 1990s. Also,
billion US Dollars. Switzerland is now among the top dozen
Indian´s industry has a huge presence with around 100 Indian
investors. The tiny country takes responsibility for 2.5 percent
companies attending. The WEF is based in Cologny-Geneva,
of total foreign direct investments in India. More than 250
Switzerland and was founded in 1971. It is famous for its
Swiss companies are represented in India such as Nestle,
annual meeting at the end of January in the Swiss city Davos
ABB, Novartis, Roche UBS, and Credit Suisse etc. There are
– an event for everyone who has rank and name in the world.
other Swiss investors mainly engaged in traditional sectors of
Indian and Swiss relations include a lot of bilateral
Swiss excellence, e.g. engineering and industrial equipment.
institutional arrangements such as the Indo-
They have created no less than over 100.000
Swiss Joint Economic Commission that was
jobs in India.
Artistes from every
set up in 1959, Foreign Offi ce Consultations
Vice versa about 100 Indian companies
(FOCs) since 1996, the Indo-Swiss Joint corner of India are sent have invested about 1.2 billion US Dollars
Committee on Science and Technology and
in Switzerland between 2012 and 2014.
out as ambassadors
the Indo-Switzerland Financial Dialogue both
Switzerland is among the fi ve largest European
since 2011 and last but not least the Consular
investment destinations for India among the top
of India´s culture to
Dialogue, a composite dialogue on consular
ten globally. Moreover, Indian IT companies
show India’s classical, such as TCS, Infosys, Tech Mahindra, and
and legal matters since 2012. But above all the
Indo-Swiss Treaty of Friendship 1948 had been folk, village and modern others have branches in the little country
the beginning of everything. It laid not only
provide services to major Swiss pharma
dances and music. There and
the foundation for a strong economic content
companies, banks, and insurance fi rms. Indian
are other initiatives:
to the bilateral relationship but also has set the
companies in the pharma and life science
pace for further treaties like Double Taxation
sectors are also present. Moreover, one should
As a very suitable
Treaty in November 1994 or the Promotion
not forget cultural relations. The two countries
symbol to mark the
and Protection of Investment Treaty in July
do not have an institutional arrangement for
1997. All these regular arrangements enabled
cultural cooperation like Cultural Cooperation
International Day of
growth and dense networks of makers and a
Agreements with other countries. But artists
Peace and Non-Violence of both countries regularly keep visiting each
diversifying of common activities.
Mutual economic earnings are impressive.
other. Indian Council for Cultural Relations
a statue of Mahatma
The major items of Indian exports to Switzerland
has played an important role in maintaining
Gandhi was offi cially
are textiles and garments, organic chemicals,
artist fl ow. Since the inception of this institute,
pearls, precious stones and jewellery, dyestuff s, installed in Ariana Park one of its main tasks has been sending
non-electronic machinery and parts, leather
Indian cultural troupes abroad. These cultural
in Geneva.
products, shoes and shoe uppers, cotton,
troupes are part of India’s Cultural Exchange
plastics, coff ee, tea, and hand-knotted carpets.
Programmes. Artistes from every corner of
Besides the billions, Swiss exports to India consist of
India are sent out as ambassadors of India´s culture to show
chemicals and pharmaceuticals, machinery, transport
India’s classical, folk, village and modern dances and music.
equipments, precision engineering products, and watches.
There are other initiatives: As a very suitable symbol to mark
Meanwhile, Switzerland is the 5th largest trading partner
the International Day of Peace and Non-Violence a statue
for India with the total bilateral trade amounting to 23.2
of Mahatma Gandhi was offi cially installed in Ariana Park
billion US$ in 2015. Vice versa India is only responsible for
in Geneva. The statue was unveiled on 14 November 2007.
0,34 percent of all Swiss imports among them half a billion
Perhaps it is time for a statue of Wilhelm Tell in a park in
Dollar for computer software and services. There are other
Delhi. It must not have the size of 6 meters as the statue of
important aspects of co-operation between Switzerland and
Karl Marx donated by China for the birthplace of Marx, the
India. Switzerland, for example, paved the way for a Trade
German city of Trier. But as a symbol, it could underline the
and Economic Partnership Agreement (TEPA) in 2008
strong and long relations between both countries.
followed by more than a dozen rounds of trade negotiations
in the years after.
* Goethe-University Frankfurt, Germany
Extraordinary and Plenipotentiary Diplomatist • Vol 7 • Issue 1 • January 2019, Noida • 41