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Swiss delegation for India Chem

Our Bureau

NEW DELHI, May 28

THE Swiss Government is likely to send a delegation to India to attend the three-day India Chem 2000 to be held here on October 6.

This assurance was given by Mr. Pascal Couchepin, Swiss Economic Minister, when a delegation led by Mr. Suresh Prabhu, Union Minister for Chemicals and Fertilisers, along with a FICCI delegation called on him in Berne.

At the interactive meeting, Mr. Prabhu made a strong pitch for Swiss investment in India, particularly in chemicals, pharmaceuticals and fertilisers. He said that by carrying out R&D in India, foreign companies can save nearly 10 per cent of the cost tha t they would have incurred in developed countries. He also mentioned about the large reservoir of trained and scientific manpower available in India.

Mr. Prabhu had related to Mr. Couchepin about the weighted tax deduction on R&D expenditure which was increased from 125 per cent earlier to 150 per cent and a tax holiday of 10 year that had been granted to R&D. The Swiss side wanted to have a strong pa tent protection legislation in place.