PM Modi asks Swiss to invest in India

Seeking to build 2-3 Switzerlands within India, Prime Minister Narendra Modi on Monday sought Swiss investment to upgrade infrastructure like railways, build metro train in 50 cities and five crore affordable homes.

At a roundtable with chief executives of leading Swiss firms, Mr Modi spoke about the steps his government has taken to make it easier to do business in India and went on to list his targets, including generating 175 giga watts of solar energy.

For India to develop, it needs upgradation of infrastructure at a massive scale. “We need to build metro train services in 50 cities, have to construct 50 million affordable houses, railway network has to be expanded and upgraded and technology has to improve,” he said.

Keeping the climate change agenda in mind, India is targeting building of 175 GW of solar energy. “The experience of past two years has shown that we can complete it within time,” he said.

Prime Minister, however, wanted solar equipment manufacturers to also come to India and innovate. Inviting Swiss business to investment in India, Modi said he stood committed to GST and European Free Trade Association.

Prime Minister Modi held wide-ranging talks with prominent business leaders from Switzerland including officials of ABB, Lafarge, Novartis, Nestle, Rieter and Roche.

He told the Swiss watch industry that the diamonds on their watches come from Gujarat and “so I am fully sensitive to your concerns.”

“Within my country I need to create 2 or 3 Switzerlands. So scope for partnership is immense,” he told the business leaders.

“We want to have manufacturing of global standards. Hence Swiss model of skill development very relevant for us.”

India, he said, is not just a market of 1.25 billion. “We have skills and a government open to business.”