Hon’ble Minister for Large and Medium Industries and Infrastructure Development, Shri M.B. Patil, met with a high-level delegation from the Geneva-based World Economic Forum (WEF), led by Aditi Vyas, Head of Business Engagement for India, World Economic Forum, in Bengaluru on Thursday. The meeting focused on exploring collaborative opportunities arising from the recently signed Free Trade Agreement (FTA) between India and Switzerland.
The discussions highlighted how the FTA could accelerate trade, commerce, and Foreign Direct Investment (FDI) between Switzerland and Karnataka. The World Economic Forum delegation noted that the agreement is expected to drive a wave of Swiss companies to expand their footprint in India, with Karnatakaal, ready a leading destination for FDI—poised to benefit significantly.
Swiss companies, renowned for their innovation, face constraints in expanding their domestic manufacturing base, making Karnataka an attractive partner for building industrial capacity. Minister MB Patil emphasized the state’s robust infrastructure and readiness to host such strategic collaborations.
The delegation also recalled World Economic Forum’s participation in the Global Investors’ Conference held in Bengaluru earlier this year. Minister MB Patil shared insights from his participation in the 2024 World Economic Forum in Davos, noting its strong impact on attracting new industrial, trade, and investment opportunities to Karnataka, ultimately driving job creation and economic growth.
Reaffirming the state’s commitment to global engagement, Minister M. B. Patil said, “Karnataka will continue to actively participate in premier platforms such as the World Economic Forum, which play a pivotal role in attracting investments, fostering international collaborations, and showcasing the state’s strengths in innovation, infrastructure, and talent. Our goal is to leverage these opportunities to drive sustainable economic growth, create high-value jobs, and position Karnataka as a preferred global investment destination.”
Aditi Vyas added that there are abundant opportunities for collaboration between Switzerland and Karnataka, especially in establishing new industrial clusters and in emerging sectors such as clean hydrogen and advanced manufacturing. She also noted that the WEF currently has 50 plus business member organizations in India. The delegation informed the minister that in addition to its annual meeting in Davos, the WEF also organizes a major conference every two years in Saudi Arabia.
Parv Bansal, Strategic Partnerships Lead for India, World Economic Forum and Young Global Leader, Alok Medikepura Anil also attended the meeting.
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