Switzerland has been ranked as the World’s most competitive nation for 7 years in a row. Its core strength lies in its innovation capabilities and has also been ranked amongst the World’s most innovative countries. The country has a very strong public education system including a very well-funded higher education system. The country registers a record number of patents each year and strives hard to commercialise these. Traditionally Swiss products and services have been considered of very high quality and cater to the most demanding premium customers around the world. As a result, most entrepreneurs who tap into this wealth of intellectual property focus their energies on the World’s most developed markets. The country also enjoys an abundance of capital as it has a trade surplus with most countries. To sustain growth, the country is under pressure to deploy this capital in the most promising global markets. The country also faces demographic challenges related to low birth rates which is seeks to redress through a migration policy that encourages highly skilled talent from around the world. The country has a liberal constitution that places high importance on its obligations towards global sustainability and the country seeks closer cooperation and partnership with like-minded democratic countries around the world. Switzerland is also home to several inter-governmental and non-governmental humanitarian organizations creating a pool of highly talented professionals that understand the needs of the development sector deeply.

India is amongst the World’s fastest growing markets and the World’s most populous democracy. India enjoys an abundant young workforce that serves as a talent pool for the global labour markets. Its society places a premiuim on education and the country that has led to its emergence as an economic powerhouse. In many areas of technology, India is now at the frontier and its scientists and entrepreneurs are creating firms that are setting new global standards. As India charts its course of economic development it has the exciting potential to leapfrog solutions used in many developed economies and adopt the latest solutions that offer the promise of making its growth more equitable and sustainable. India’s entrepreneurs have successfully navigated global markets and are respected around the globe. Its Mars mission and impeccable track record in the space sector has had several developed countries take notice of its emergence as a stable and responsible global power. As the country strengthens its defence capabilities and develops its rural and semi-urban markets, it needs a combination of high technology as well as affordable solutions to drive this growth.

Shared values of peace and democracy are the bedrock on the partnership between these two countries. As the World transforms shaped by the Fourth Industrial Revolution the two countries are poised uniquely to tap into each other’s strengths to co-create technology and solutions that will revolutionize healthcare, energy, education and several other sectors and create world beating companies. At of 2017, there are over 300 Swiss companies active in India and create over 100,000 jobs. Indian firms too are active in Switzerland from pharma to software and support several thousand jobs. These economic ties as well as academic partnerships and joint research projects provide a solid foundation to build upon. The current ties while encouraging, leave a lot of untapped potential.

The Swiss India Technology Innovation Corridor seeks to accelerate this partnership and take it to a next level. A key focus of this initiative would be to address key challenges in the social sector through the use of advanced technology creating products and solutions that would address the domestic needs of both countries but equally serve global market needs.