India, Sweden ink MoU on technical cooperation

India and Sweden on Monday signed an agreement for technical cooperation in railways and other areas.

The agreement was signed between the Indian Railways and the Swedish ministries of railways and enterprise and innovation.

"The main objectives of the MoU is to develop cooperation in railways and achieve concrete results with regard to bilateral trade, investment and research and technology transfer," a railways ministry statement said.

The areas identified for cooperation include benchmark railway projects, exchange of knowledge, training and education and sustainable solutions among others.

The agreement's time frame is five years, extendable by another five years with mutual consent, the statement added.