Industry & Economy
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Foreign Direct Investment
`Ease regulatory burden to attract higher FDI'
Our Bureau
New Delhi
,
Jan. 24
INDIA should ease the regulatory burden and improve the conditions for doing business in order to attract higher foreign direct investment, a top Swiss Government official said.
Addressing an interactive meeting on "India and Switzerland - A Winning Partnership," organised by industry chamber FICCI on Monday, the Swiss Federal Councillor and Head of the Federal Department of Economic Affairs, Mr Joseph Deiss, said, "I am convinced that as the intellectual property rights protection improves, more Swiss investment will enter India especially in knowledge-based sectors" adding that Swiss companies in the services sector would welcome a further opening in this field.
Mr Deiss further emphasised that India's infrastructure and administrative procedures need to be upgraded and simplified for domestic and foreign companies. "The two countries have a lot to offer to each other and can gain by developing cooperation in high tech and knowledge-based sectors," he said.
Mr Deiss also added that Swiss and Indian companies could step up their collaboration efforts in a number of fields such as biotechnology, textile machinery, auto components, information technology, tourism, re-insurance and engineering services to reap higher economic benefits.
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