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Sweden Shows Interest In India Investment Opportunities

In an effort to support strong ties between the two nations, India has been chosen as the focus country at the Stockholm Cultural Festival in August 2017

Pitching India's potential for investment in green technology and flagship ventures like the "Smart Cities" project and "Skill India", Prime Minister Narendra Modi met Anna Ekström, Swedish Minister for Upper Secondary School and Adult Education and Training, during Vibrant Gujarat.

In an effort to support strong ties between the two nations, India has been chosen as the focus country at the Stockholm Cultural Festival in August 2017.

Sweden remains committed to partnering India in various sectors.

Modi said, "India offered considerable potential for Swedish investment in green technologies, smart cities, skill India and Digital India. Our trade and investment relations were strong with current trade of $2 billion which both sides had agreed to increase to $5billion over the next three years. Two way investment was also robust with Swedish companies having invested $1.2 billion in India and Indian companies $700 million in Sweden."

At the special seminar hosted by Sweden on Smart Manufacturing & Skills Development at Vibrant Gujarat, Ekstrom presented a meaningful exchange between authorities with global CEO’s and high level management from top 15 Swedish companies -- H&M, Volvo, Scania, Ericsson, SAAB, ABB, Atlas Copco, SKF, Sandvik, Cale Access AB & Government offices of Sweden and India.

Ekstrom said the India-Sweden Business Leaders’ Round Table was also very active and showed the great potential in pursuing profitable partnerships with India.

Ulrika Sundberg, Consul General of Sweden, Mumbai, said: "Sweden has a long and successful smart manufacturing tradition. The industrial and service sector as well as digitalization are drivers of growth in the Swedish economy and prosperity. India is poised to become the 3rd largest economy of the world by 2030 and is a priority market for Sweden. Our aim is to discuss and exchange views on current developments on the national strategic level and to raise awareness of Swedish and Indian innovative solutions in the area of smart manufacturing and smart cities to increase business opportunities."

Sundberg added: "When it comes to skills development Swedish companies have a close relationship with India through the Swedish Health Care Platform which initiated an education and skill development program for nurses under the Indian government’s initiative of 'Skill India'. Swedish companies are also investing in skills development and vocational training programs for employees and students. Vibrant Gujarat is an occasion for us to exchange ideas and solutions within areas where Sweden stands strong. I hope this visit will lead to a higher degree of awareness of India’s opportunities and what Sweden and Swedish companies can offer and Make in India."

Ekström said, "Sweden strongly believes in providing equal education for all, investing in youth and lifelong learning. Equal education is the way to make use of everyone’s full potential. For Sweden as well as India skills development is key to be able to have a well-educated workforce and active citizens. In this area our two countries has common challenges. Swedish companies, academia and government are keen to cooperate and work together to meet these challenges through research, higher education and vocational education."

180 Swedish companies are active in India and we look forward to an even deeper and widen cooperation within the India Sweden Business Leaders Round Table. Equal education where boys and girl meet high expectation and are given equal opportunities leads to fairness, quality and growth.

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