A Free-Trade Agreement between India and Switzerland, which is currently under negotiations, could materialise some time in 2015, said Deputy Head of Mission of the Embassy of Switzerland, Martin Strub.
Speaking at a function organised by the South Indian Chamber of Commerce and Industry, he said that the growth in the two-way trade between the nations was an encouraging sign. The climate in India was, however, changing, making it a favourable investment destination, he said.
Any FTA, however, must be a win-win situation, he said, alluding to the high taxes on select products and services between either sides.
Tourism, he explained, is being instrumental in improving Indo-Swiss ties and take it to the next level. The European nation was keen to ensure that its banking secrecy laws do not ensure the hoarding of illegal wealth or black money.