Indo-Swiss Business   I  Bi-Monthly I Specail Issue 2008
   

   
.COVERSTORY
 
   
 
60 & going strong

On 14 August 1948, India, then a year-old fledgling democracy, signed a Friendship Treaty with Switzerland, a small country tucked away in the snowy Alps of Europe. The Treaty, signed in New Delhi by India's first Prime Minister Jawaharlal Nehru and Switzerland's Envoy Extraordinary and Minister Plenipotentiary Armin Daeniker, has stood the test of time.

“You will be glad to know that the Government of India have agreed to enter into a treaty of friendship with the ancient republic of Switzerland. This is the first treaty of this kind,” Prime Minister Nehru wrote to the Chief Ministers in a fortnightly letter. So, the treaty is the first of its kind, born out of the vision and efforts of no less a global statesman than Pandit Nehru. However, it has not been consigned to history like many such documents. In fact, the Treaty has flourished like a banyan tree providing shade and rest to wayfarers. Founded on the noble principles of liberty and democracy, the Treaty has been nourished and nurtured by commerce. It has enabled Switzerland to share its industrial advancement with India, which, in turn, has offered the former a huge and growing market for its products, from machinery to medicines and milk. The most important aspect this Treaty has been its dynamic character. It has responded to the need of the hour. When India liberated its economy from Socialist shackles in the early 1990s, the Treaty found its much-needed nourishment. In the last two decades, bilateral trade between India, now a fast-growing economy and Switzerland, a stable and developed nation, has expanded by leaps and bounds. It has almost doubled in the last five years to touch three billion Swiss francs. Today, more than 150 Swiss companies, some of them large multinationals, are operating in India. Scores of small and medium sized Swiss firms are now looking at the flourishing Indian market, bolstered by the purchasing power of a 300-million strong middle-class. There has been a two-way flow of investment. Switzerland is a favoured destination for Indian tourists with deep pockets. Bollywood's lovelorn heroes and heroines find the lovely Swiss locales idyllic for singing and dancing. Today India and Switzerland are closer than ever before, their bonds growing stronger with years. In the Indian social and religious context, the attainment of 60 years is regarded as a sacred landmark in a man's life and is celebrated with philosophical detachment as it opens doors to a higher spiritual realm. At 60, the Friendship Treaty has flung open the doors to vast, and yet untapped vistas of opportunity for both India and Switzerland.

-Dev