The issue was discussed during the 18th session of India-Sweden Joint Commission for Economic, Industrial and Scientific Cooperation (JCEC), which was held here today.
The two sides also identified telecommunications, sustainable urban transport and road safety, traditional medicine and food science & technology as other areas to increase cooperation.
The two sides agreed for regular meetings between Indian and Swedish governments and businesses for facilitating investments, it said.
The two countries are also working towards a Memorandum of Understanding to strengthen cooperation in the field of Intellectual Property, it added.
Both the sides agreed to conduct mid-term reviews on the progress of achievements in Sweden and India, alternatively.
The bilateral trade stood at USD 2.16 billion in 2015-16. India has received only USD 1.26 billion FDI from the European country during April 2000 and December 2016.
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