The India–EFTA Trade and Economic Partnership Agreement (TEPA) came into effect on Wednesday, with a string of investment announcements from companies based in the four EFTA nations — Switzerland, Norway, Iceland and Liechtenstein. This signalled early momentum on the $100 billion investment pledge made under the pact.
Iceland's Kohinoor Ropes said it will set up a new facility in Aurangabad within a year. Construction tools major Hilti and listed giant ABB India announced further expansion in the country, while Bucher Hydraulics committed Rs 200 crore and pledged to double its exports from India.
Swiss security paper maker Landqart AG will invest 30 million Swiss francs, while the world's largest shipping company Mediterranean Shipping Company (MSC) is eyeing recycling and shipbuilding opportunities, along with participation in upcoming terminal operation tenders at Wadhawan port.
Healthcare giant Roche unveiled plans to invest at least 1.5 billion Swiss francs in R&D and government-linked schemes, while railway solutions firm Schwihag AG committed 40 million euros for its India operations.
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