In an attempt to increase foreign investment in India, the country has invited Swedish firms to explore the business opportunities here and has also assured them of all the support. The commerce and industry ministry has planned to organize a ‘Make in India: Sweden 2017’ in Stockholm which will help enhance the Indo Swedish cooperation and explore new avenues of partnership. The Indian delegation will be led by the Commerce and Industry Minister Suresh Prabhu for the two day event. Chief Minister Devendra Fadnavis will be accompanying the Industry Minister, Prabhu. A range of Swedish companies have been invited to visit India and the ministry has assured them that the requisite support will be provided.
Fadnavis mentioned that there are huge opportunities for business in areas like development of the smart cities. He also added that the ministry is open to collaborations with technology providers for liquid and solid waste management. A lot of Swedish companies are already present in India. The minister mentioned that Sweden came to invest in India when it was a difficult time to do business, hence, now is the time of business oriented structural reforms and to ripen the partnerships.
SAAB, a leading Swedish company has shown interest in the introduction of full scope for the development of industrial systems, from the designing as well as engineering to production of the same. This is an attempt at fostering an EU India free trade agreement, given the potential to open borders and allow products to compete. Higher economic integration and interdependencies will help with the resolution of global political issues.
The bilateral trade between both the nations dipped to USD 1.87 billion in 2016-17 from USD 2.17 billion in the previous financial year. India has attracted USD 1.38 billion between April 2000 and June 2017. The Government has been consistently making efforts to increase foreign investment in the country. With an aim to improve the global relations and to increase investment, employment and achieve higher growth, the government has invited the Swedish companies and aims to showcase the business opportunities in the country.