New Delhi, Oct 1 (PTI) Swiss healthcare major Roche Pharma has committed to invest 1.5 billion Swiss Franc in India over the next five years, a senior company executive said on Wednesday.
The company announced this investment as part of the commitment made by the four-nation EFTA bloc under a trade pact with India.
The agreement came into force on Wednesday.
Under the deal, EFTA has committed to invest USD 100 billion in India over the next 15 years.
The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland. The pact was signed on March 10, 2024.
Speaking at the India-European Free Trade Association (EFTA) Prosperity Summit here, Roche Pharma Area Head CEETRIS (Central Eastern Europe, Turkiye, Russia and Indian Subcontinent) Francois du Toit said the company’s investment underlines a long-term commitment to the Indian market.
“We currently have over 5,000 employees in India. We commit to investing 1.5 billion Swiss francs at a minimum into our core businesses over the next five years,” du Toit said.
The company sees India not only as an important market, but also as a hub for innovation, he added.
The company’s investment will go into three critical areas, including R&D, he said.
Roche would also be working with Ayushman Bharat and several other schemes to bring its innovative products to as many patients in India as possible, he added.
India’s free trade agreement (FTA) with the four-nation bloc, the European Free Trade Association (EFTA), comes into effect on Wednesday.
Along with Roche, about 18 more firms of the bloc showed their interest in investing in India.
These companies include Skyrrup, Kohinoor Ropes, LGT India, Hilti India, Kongsberg, Elkem, Borregaard, Bobst India, Bucher Hydraulics Private Limited, and Buhler India Pvt Ltd.
The other firms include Furrer & Frey India Private Limited, Huber+Suhner (India), MSC Agency (India) Private Limited, and SIG Combibloc. PTI MSS RR BAL BAL
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