metro india news  I zurich

Minister for IT and Industries Duddilla Sridhar Babu on Saturday launched a dedicated Trade and Economic Partnership Agreement (TEPA) desk, strategically positioning the Telangana State to capitalise on a landmark investment opportunity with European Free Trade Association (EFTA) countries.

Following the historic TEPA signed in March 2024 between India and EFTA nations (Switzerland, Norway, Iceland, and Liechtenstein), the State is primed to become a premier investment destination. The agreement promises nearly €100 billion in investments over the next 15 years, with the potential to generate 1 million jobs.

During a specialised investment event at the Zurich Innovation Park, Minister Sridhar Babu highlighted Telangana's robust economic ecosystem and its readiness to welcome international investments.

The event, attended by key dignitaries including Swiss National Council member Nicholas Gugger, Switzerland's Ambassador to India H.E. Maya Tissafi, and representatives from over 40 Swiss companies, underscored the State's strategic importance.

 "Telangana is already a global leader in IT and Life Sciences, with major Swiss corporations like Novartis, Roche, UBS, and Swiss Re establishing a strong presence in Hyderabad," the Minister said.

"We are committed to positioning ourselves at the intersection of global business and innovation, creating boundless opportunities in emerging technologies and critical sectors," Sridhar Babu said.

The newly established TEPA desk within the Invest Telangana cell will serve as a single-window mechanism for Swiss and EFTA companies exploring investment opportunities in India. This initiative demonstrates the state government's proactive approach to facilitating international business partnerships, he said.

The Minister further stated that the Telangana government will actively pursue deeper engagements with EFTA countries, working closely with their embassies, trade missions in India, and Indian diplomatic missions to streamline investment processes.