# 2 / 2024

Free trade agreement with India: a milestone for Swiss foreign trade

Swiss direct investment in India

In 2022, Swiss direct investments in India totalled CHF 8.1 billion.

  • According to the International Monetary Fund (IMF), Switzerland ranked seventh among the most important foreign direct investors in India in 2021 with a capital stock totaling USD 35 billion.
  • The above estimate of the Swiss National Bank's (SNB) capital stock in 2021 – around CHF 7.4 billion – is around five times lower. The large discrepancy can be explained by the fact that some Swiss investments flow to India via third countries.
  • According to the SNB, Swiss capital transactions to India totaled an average of CHF 1.3 billion per year between 2017 and 2022.
  • According to a survey by the Swiss embassy in Delhi, over 330 Swiss companies are currently active in India through joint ventures or branches. These contribute directly to the creation of around 166’000 jobs in India.
  • A comparison with China also shows the growth potential.

Source: SECO/SNB