PM Modi invites Swedish businesses to enhance presence in India
Prime Minister Narendra Modi has held bilateral consultations with Prime Minister Ulf Kristersson in Gothenburg on his official visit to Sweden during which a full spectrum of India-Sweden relations were reviewed and growing momentum was noted in bilateral ties across the sectors of trade and investment. These included innovation, green transition, emerging technologies, defence and security, digitalisation, SMEs, space, research, education, culture and people-to-people exchanges.
The two leaders reaffirmed their shared commitment to strengthening the ties which are based on shared democratic values and driven by innovation, sustainability and R&D linkages. They underlined the importance of maintaining regular high-level political engagements and institutional dialogues to guide the expanding partnership.
They agreed to elevate India-Sweden relationship to the level of Strategic Partnership. The Strategic Partnership will be guided by four pillars: Strategic Dialogue for Stability and Security; Next-Generation Economic Partnership; Emerging Technologies and Trusted Connectivity; and Shaping Tomorrow Together – People, Planet, Health and Resilience. To operationalise the Strategic Partnership, the two leaders adopted the India-Sweden Joint Action Plan 2026-2030, which provides a comprehensive roadmap for cooperation across political, economic, technological, security, climate and people-to-people domains.
The two leaders underscored that the recently concluded India-EU FTA has opened a new chapter in economic & commercial ties and agreed to continue efforts for its early implementation to facilitate deepening the trade, investment and technology linkages.
Prime Minister Modi appreciated Sweden’s continued engagement with India across strategic sectors including innovation, clean technologies, advanced manufacturing, sustainable mobility and digital transformation. Prime Minister Kristersson appreciated the strides being made by India in the field of digital transformation and Artificial Intelligence. He also noted the positive contribution of the Indian community to Sweden’s economy and innovation ecosystem. Prime Minister Modi invited further Swedish participation in India’s growth story.
The leaders also exchanged views on key regional and global issues of mutual interest. They emphasized the urgency of reform of the UN and other multilateral organisations. Prime Minister Modi thanked Sweden for their strong support in the fight against terrorism. The two leaders further reaffirmed their commitment to promoting peace, stability, resilient supply chains and sustainable economic growth.
Prime Minister Modi also highlighted to the Swedish business leaders that India and Sweden are connected by shared values of democracy, transparency, innovation and sustainability, which provide a strong foundation for an ambitious and forward-looking economic partnership. He underlined that the India-Sweden partnership today is not merely an economic relationship, but a partnership of ideas, technology, innovation and co-creation. He welcomed the longstanding contribution of Swedish companies to India’s growth and encouraged deeper collaboration in research, innovation, green transition and manufacturing.
Prime Minister highlighted India’s rapid economic transformation driven by reform, strong domestic demand, digital public infrastructure, manufacturing expansion and next-generation infrastructure development. He invited Swedish companies to enhance their presence in India under initiatives such as MAKE IN INDIA, the National Green Hydrogen Mission, the National Critical Mineral Mission and expanding opportunities in sectors including clean energy, defence, semiconductors and advanced manufacturing.
The discussions also focused on strengthening cooperation in resilient supply chains, green transition, sustainable mobility, life sciences and digital technologies. Prime Minister Modi underlined the importance of combining Sweden’s strengths in innovation and sustainability with India’s scale, talent and growth momentum to co-create solutions for the 21st century, the PMO said on 18 May. Fiinews.com
