In a significant push for bilateral economic ties, Union Commerce and Industry Minister Piyush Goyal has called upon companies from Liechtenstein to actively explore and capitalize on the vast business opportunities available in India. Speaking at a high-profile business forum in Vaduz, the capital of the tiny European principality, Goyal highlighted India’s robust economic growth, progressive policies, and burgeoning market potential as prime attractions for international investors.
Liechtenstein, known for its sophisticated financial services sector and innovation-driven industries, shares complementary strengths with India’s dynamic startup ecosystem and manufacturing ambitions. Goyal emphasized the ‘Make in India’ initiative, which has already attracted global giants and promises streamlined regulations, world-class infrastructure, and a skilled workforce ready to collaborate on cutting-edge projects.
‘Delhi’s economic trajectory is nothing short of remarkable,’ Goyal stated, pointing to recent reforms like the Goods and Services Tax (GST), eased foreign direct investment norms, and digital infrastructure revolutions. He specifically invited Liechtenstein’s expertise in precision engineering, pharmaceuticals, and asset management to partner in sectors such as renewable energy, electric vehicles, and fintech, where India is aggressively expanding.
The minister underscored the burgeoning trade relations between the two nations, noting that despite Liechtenstein’s small size, its per capita GDP rivals that of major economies, making it a valuable partner. Bilateral trade has shown steady growth, but Goyal stressed untapped potential in joint ventures and technology transfers that could benefit both sides.
This outreach comes at a time when India is positioning itself as a global investment destination post-pandemic, with GDP projections soaring above 7% annually. Goyal also addressed sustainability, urging firms to align with India’s net-zero commitments by 2070 through green technologies and circular economy practices.
Industry leaders from Liechtenstein expressed keen interest, with several announcing plans for feasibility studies and potential memorandums of understanding. The event, attended by top executives and government officials, signals a new chapter in India-Liechtenstein economic diplomacy, promising mutual prosperity in an interconnected world.