Sweden aims to double trade and investments with India in the next five years
Sweden has outlined a five-year plan to double its trade and investment engagement with India, focusing on expanding Swedish business operations and employment. Over 280 Swedish companies active in India are aligning with initiatives such as 'Make in India' to boost innovation, manufacturing, and sustainable growth, creating significant direct and indirect jobs in the process.
Sweden is strengthening its economic ties with India through a strategic five-year roadmap to double Swedish investments and job creation in the country. Ambassador Jan Thesleff highlighted the active presence of more than 280 Swedish enterprises across sectors like innovation, manufacturing, digitalization, and research. These firms contribute significantly to India's economy, employing 220,000 people directly and 2.2 million indirectly, particularly through local manufacturing and sourcing. This growth strategy aligns with India's 'Make in India' initiative, promoting local supply chain integration and sustainable development. The bilateral relationship benefits from ongoing discussions around the EU-India Free Trade Agreement and emphasizes collaboration on green transition technologies and innovation. Notable Swedish companies such as Volvo Group, Ikea, Saab, and Trelleborg are investing heavily in India, expanding manufacturing facilities and local sourcing. Additionally, there is reciprocal interest, with Indian investments in Sweden growing strongly, especially in tech, automotive, and renewable sectors. This robust cooperation is further supported by high-level governmental dialogues, business forums, and MoUs enhancing industrial, scientific, and environmental collaboration. Overall, the Sweden-India partnership is poised for considerable expansion, leveraging complementary strengths in technology, sustainability, and market opportunities to foster economic growth for both nations.
