This year marks the 75th anniversary of India-Sweden bilateral relations, which is cause for celebration. In the last year, bilateral trade has reached unprecedented levels, with Swedish companies making significant inroads into the Indian market. The current Indian administration has expressed a strong desire to strengthen and broaden the bilateral relationship.
The Past and Present of India-Sweden Bilateral Relations
- In the last century, Sweden and India have come a long way.
- Through industry and manufacturing, both countries have grown from limited contacts to a thriving partnership. Swedish companies have been key drivers in both domains, and through their collaboration, Sweden and India have found mutual friends.
- In 2023, Sweden will commemorate the anniversaries of Ericsson, SKF, Alfa Laval, and Volvo, all of which are well-known Swedish companies in India.
Friendship Celebrated for 75 Years
- In 2022, India and Sweden had a record year for bilateral trade, with Swedish companies experiencing strong growth in India.
- Both countries are committed to expanding their partnership and collaborating in areas such as innovation, green transition, energy, health, industry policy, and others.
Highlighting the significance of industry and manufacturing
- Industry and manufacturing are critical to long-term economic growth, and Sweden and India have identified these sectors as priority areas for collaboration.
- Swedish firms have been important drivers: Partnerships and bold steps are required for an active industry policy, and Swedish companies have been key drivers in industry and manufacturing in India for several decades.
Opportunities for Even Closer Bonds in the Future
- There are opportunities for India and Sweden to strengthen their ties, including a Free Trade Agreement between the EU and India.
- The European Union presidency provides an opportunity to investigate this possibility, which would benefit economic and industrial exchange, particularly in cities like Pune, where Swedish companies have a strong presence.Opportunities for Even Closer Bonds in the Future
- There are opportunities for India and Sweden to strengthen their ties, including a Free Trade Agreement between the EU and India.
- The European Union presidency provides an opportunity to investigate this possibility, which would benefit economic and industrial exchange, particularly in cities like Pune, where Swedish companies have a strong presence.
@the end
In the last 75 years, India and Sweden have come a long way together. Both countries have identified industry and manufacturing as critical to long-term economic growth, and there is a need to intensify efforts to develop socially and environmentally sustainable practises.
Source: https://www.mea.gov.in/Portal/ForeignRelation/Sweden_Jan_2016.pdf