You are here: Home » News-IANS » Science-Tech
Business Standard

India, Sweden sign joint action plan, innovation partnership

IANS  |  Stockholm 

Aiming to build a win-win partnership through making use of the opportunities offered by India's development programmes, the two countries on Tuesday signed a Joint Action Plan and an Innovation Partnership following a bilateral summit between Indian and his Swedish counterpart here.

Jointly addressing the media here along with Lofven after the talks, Modi said that has been a strong contributor to the Make in programme from the beginning and recalled that the Swedish himself led a big business delegation to the Make in summit in in 2016.

"The main theme of our discussions today was how to develop a win-win partnership between and through the opportunities offered by India's development programmes," Modi said. "As a result, we agreed to a Joint Action Plan and an Innovation Partnership."

Stating that innovation, investment, start-ups, were among the main areas of cooperation between the two countries, he said that attention was also paid on renewable energy, urban transport and to improve the quality of life of the Indian people.

"Defence and security is an important pillar of our bilateral reltionship," Modi said.

"has been partner of in defence sector for a long time. I am confident that new opportunities for cooperation in this sector will arise in the future, especially in defence production."

Stating that is an important partner of for defence and security, the Indian said that there will be new opportunities for defence production in the future.

According to Modi both sides also agreed to further strengthen security, especially cyber security cooperation.

"One more thing that we have agreed upon is that the importance of our relationship should be reflected at the regional and global levels," he said. "We have been been closely cooperating on the international platform and this will continue."

Modi also said developments in and also came up for detailed discussion during the bilateral summit

On his part, Lofven said that he believed that and make a perfect match.

Stating that is undergoing an unprecedented economic transformation, he said that has a lot of innovative solutions to offer in this connection.

"I am very pleased to announce that the will kick start our Innovation Partnership by providing up to 50 million Swedish kronor (Over $59 million) for innovation cooperation with in the field of smart cities and sustainability," Lofven said.

Earlier in the day, Modi called on Sweden's Gustaf at the here and the two leaders exchanged views on strengthening bilateral cooperation.

This apart, Modi and Lofven will attend a round table of Swedish CEOs.

and will on Tuesday also co-host the first ever India-Nordic Summit, where, apart from Modi and Lofven, the Prime Ministers of the other four of Denmark, Finland, and will also be present.

Modi will hold separate bilateral meetings with the leaders of the other four on the sidelines of the summit.

The Indian arrived here on Monday evening on the first leg of his three-nation tour of that will also see him going to Britain and

This is the first prime ministerial visit from to in 30 years after that by in 1988.

After attending an Indian community event here late on Tuesday night, Modi will depart for on the second leg of his tour.

--IANS

ab/vm

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, April 17 2018. 18:40 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU