8 months ago
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Minister for Industries T.R.B. Rajaa connected Wednesday said the authorities authorities intends to marque Tamil Nadu prime superior of India and the world.
Earlier, the industries successful the authorities looked up to precision engineering from Switzerland arsenic a benchmark but it was clip to research opportunities and absorption connected prime done the India-European Free Trade Association (EFTA) Trade and Economic Agreement, helium said speaking astatine the Tamil Nadu EFTA Business Summit 2025 successful Chennai, organised by the Southern India Chamber of Commerce and Industry (SICCI).
The commercialized and economical agreement, which came into effect from October 1, pledges $100 cardinal successful investments and the instauration of 1 cardinal nonstop jobs successful India implicit 15 years, portion providing wider goods and services entree crossed Switzerland, Norway, Iceland, and Liechtenstein.
Mr. Rajaa said Tamil Nadu has doubled its exports to $52 cardinal from $26 cardinal successful the past 4 years, with $14.6 cardinal coming from electronics.
The State accounts for 41% of the country’s electronics exports, helium said.
Tamil Nadu has signed memoranda of knowing with an concern imaginable of ₹ 11.32 lakh crore and with precocious conversion rate, helium said.
Mr. Rajaa besides expressed anticipation that the authorities would physique meaningful concern with Norway connected shipbuilding and bluish system portion the geothermal capabilities of Iceland could besides beryllium leveraged.
He besides called for the instauration of a moving radical with time-bound targets to guarantee that the afloat imaginable of the statement is harnessed.
Tamil Nadu arsenic a authorities volition beryllium astir apt champion placed to reap the benefits of the commercialized agreement, Industries Secretary Arun Roy said.
Ms. Maya Tissafi, Ambassador of Switzerland to India and Bhutan, Embassy of Switzerland, New Delhi said determination are astir 330 Swiss companies successful India employing 150,000 radical and 17 Swiss companies are operating successful Tamil Nadu crossed divers sectors similar mechanical and electrical engineering, precision engineering and others.
“In challenging times for planetary trade, with protectionism rising and multilateralism nether pressure, the introduction into unit of this comprehensive, global-looking concern is not conscionable significant, it is remarkable,” she said.
Mr. Bjørn Iversen, Head of Innovation Norway & Commercial Counsellor, Royal Norwegian Embassy said the statement supports Norway’s committedness to sustainable improvement and greenish modulation successful India and highlighted sectors similar maritime, shipbuilding among others.
V.N. Shiva Shankar, elder vice president, SICCI said that SICCI, on with Guidance Tamil Nadu and EY, volition found a Tamil Nadu–EFTA Business Facilitation Desk, big yearly EFTA Roundtables connected emerging sectors.
Niklaus-Samuel Gugger, member, Swiss National Council and President, Switzerland-India, Parliamentary Friendship Group, Benedikt Höskuldsson, Ambassador of Iceland to India, among others, spoke astatine the event.
