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Will collaborate with India on flagship initiatives: Sweden PM

ANI  |  Stockholm [Sweden] 

In an endeavour to further deepen the bilateral ties between the two countries, said on Tuesday that the country will collaborate with on its flagship schemes such as Make in India, Smart Cities Mission, and

In a joint statement here, commended the for its strong focus on innovation and has termed the initiatives as keys to progress and prosperity for India.

Further speaking on innovation partnership between New Delhi and Stockholm, Lofven said, "will provide 50 million kronas (approx. Rs 40 crore) for innovation corporation with India for the Smart Cities project and for achieving sustainable development. This will also help to facilitate job creation."

He lauded India for taking steps for its unprecedented economic transformation in terms of and digital development.

The Swedish added that a joint action plan has been signed between India and Sweden, wherein the two countries will set up common tasks on cybersecurity. Also, he said that the two countries were working on a security arrangement allowing to exchange types of classified information in terms of defence.

Lofven also spoke about the re-launching of the negotiations on investment protection and free trade under the European Union-India strategic partnership for improving the business climate between the two countries.

is currently on a five-day visit to Sweden, the and

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

First Published: Tue, April 17 2018. 18:45 IST