Aiming to build a win-win partnership through Sweden 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 Prime Minister Narendra Modi and his Swedish counterpart Stefan Lofven here.
Jointly addressing the media here along with Lofven after the talks, Modi said that Sweden has been a strong contributor to the Make in India programme from the beginning and recalled that the Swedish Prime Minister himself led a big business delegation to the Make in India summit in Mumbai in 2016.
"The main theme of our discussions today was how to develop a win-win partnership between Sweden and India 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, manufacturing were among the main areas of cooperation between the two countries, he said that attention was also paid on renewable energy, urban transport and waste management to improve the quality of life of the Indian people.
"Defence and security is an important pillar of our bilateral reltionship," Modi said.
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."
"I am very pleased to announce that the Swedish government will kick start our Innovation Partnership by providing up to 50 million Swedish kronor (Over $59 million) for innovation cooperation with India in the field of smart cities and sustainability," Lofven said.
This apart, Modi and Lofven will attend a round table of Swedish CEOs.
India and Sweden 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 Nordic countries of Denmark, Finland, Iceland and Norway will also be present.
Modi will hold separate bilateral meetings with the leaders of the other four Nordic countries on the sidelines of the summit.
After attending an Indian community event here late on Tuesday night, Modi will depart for London on the second leg of his tour.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)