Goyal invites Swedish business community to partner with Indian industries

India has invited Swedish businesses to take trade and investments between the two countries to a higher level, especially in sectors like energy, healthcare, defence, sustainable urban development and railways.

Participated at the 19th Indo-Swedish Joint Commission for Economic, Industrial and Scientific Cooperation (JCEC) here on October 22 and 23, Union Minister for Commerce and Industry Piyush Goyal gave an overview of structural and procedural reforms undertaken by the government to improve ease of doing business at the Centre and state levels.

He said India offers immense opportunities in sectors like road, railway, highways, renewable energy, housing, smart cities and healthcare. The Swedish business community can tap huge Indian markets and utilise resources for export markets as well.

At the JCEC, the new areas of identified for possible collaboration include electromobility, road safety, space research and traditional Indian medicine systems like ayurveda and naturopathy.

Goyal also proposed setting up of an investment enclave for Swedish investors in India with ready plug-and-play infrastructure to create an enabling ecosystem, especially for start-ups. countries. He reiterated the importance placed by the prime ministers of both countries on the Joint Action Plan and Joint Declaration on Innovation Partnership.

In 2016, the India-Sweden Business Leaders Round Table was an important outcome of Swedish Prime Minister Stefan Lofven's visit to India, creating a robust framework for bringing closer the business communities of both countries.

Swedish Minister for Foreign Trade Anna Hallberg said more than 200 Swedish companies in India and more than 70 Indian companies in Sweden. She agreed that bilateral trade can be enhanced further.

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