WEF 2026: Karnataka & SICC Forge Industrial Ties

Bengaluru, Jan 21 (PTI) The SICC on Wednesday said it signed an MoU with the government of Karnataka at the WEF Annual Meeting 2026 in Davos.


The agreement aims to create a framework to strengthen Swiss industry and investment engagement in the state under the India–European Free Trade Association (EFTA) and Trade and Economic Partnership Agreement (TEPA).

In a statement, the Swiss Indian Chamber of Commerce said the memorandum of understanding sets out a structured pathway for Swiss companies to engage with Karnataka, focusing on investment facilitation, company–government dialogue, and execution support.


"Karnataka has emerged as a key destination for Swiss companies due to its established strengths in engineering, precision manufacturing, innovation-led sectors, and access to skilled talent, which align closely with Swiss industrial capabilities," the SICC said.

SICC president Satish Rao said, "Post-TEPA, Swiss companies are focused on how and where to execute in India. This MoU helps structure engagement with Karnataka in a way that supports long-term investment and expansion."

According to SICC, Karnataka already hosts a significant share of Swiss economic activity in India.

"Nearly 18 per cent of Swiss companies in the machine, electrical engineering, and precision sectors operate in the state, while Bengaluru hosts a substantial number of Swiss research and development centres," it further said.