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India invites Swedish firms to explore biz opportunities

Press Trust of India  |  New Delhi 

has invited Swedish firms to explore business opportunities here and assured all support to them, the commerce and industry ministry said today.

The ministry is organising 'Make in India: 2017' in Stockholm starting today, to enhance Indo-Swedish cooperation and explore new areas of partnership.

The Indian delegation for the 2-day event is led by Commerce and Industry Minister Suresh Prabhu.

Chief Minister of Devendra Fadnavis, who is accompanying Prabhu, invited Swedish companies to visit and assured them that requisite support will be extended to them.

According to a statement by the commerce ministry, Fadnavis said huge business opportunities are there in in areas like development of smart cities.

"We look forward to collaborate with technology providers into solid and liquid waste management," he added.

Prabhu said that almost all top Swedish companies are present in

"is an old and trusted friend who came to invest in India when it was a tough time to do business, now it is the time of business oriented structural reforms and time is ripe for these partnerships," the minister said.

Prabhu also called on Prime Minister of Stefan Lfven, who said: "I look forward to intensely working with you. We are dedicated to making the relationship develop further".

Further, the statement said that SAAB, a leading Swedish company in India, has expressed interest in introducing full scope for development of industrial systems, from design and engineering to production.

"Importance of fostering an EU-India free trade agreement was discussed, given its potential to open borders and enable products to compete. It was agreed that higher economic integration and interdependencies will help resolve global political issues," it said.

The bilateral trade between the two countries dipped to USD 1.87 billion in 2016-17 from USD 2.17 billion in the previous fiscal.

India has attracted USD 1.38 billion during April 2000 and June 2017.

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

First Published: Thu, October 12 2017. 19:57 IST