Central Idea

This year marks 75 years of bilateral relations between India and Sweden, and it is an occasion to celebrate. Bilateral trade has reached unprecedented levels in the past year, with Swedish companies making significant strides in the Indian market. The latest Indian administration has shown a keen interest in augmenting and broadening the partnership between the two countries.

The Past and Present: Bilateral Relations between India and Sweden

Sweden and India have come a long way in the past 100 years.
From limited contacts to a flourishing partnership, both countries have developed national wealth through industry and manufacturing. Swedish companies have been key drivers in both domains, and through their work, Sweden and India have found friends in one another.
In 2023, Sweden is celebrating the anniversaries of Ericsson, SKF, Alfa Laval, and Volvo, notable Swedish companies in India.

Record bilateral trade: India and Sweden celebrated a record year for bilateral trade in 2022, with Swedish companies experiencing strong growth in India.
Flourishing partnership: Both countries are committed to expanding their partnership and collaborating in innovation, green transition, energy, health, industry policy and more.

Key sectors: Industry and manufacturing are key to building long-term economic growth, and Sweden and India have identified these sectors as key areas of collaboration.
Swedish companies have been key drivers: An active industry policy necessitates partnerships and taking bold steps, and Swedish companies have been key drivers in industry and manufacturing in India for several decades.

Commitment to green supply chain: The future belongs to green and sustainable practices, and both Sweden and India are committed to socially and environmentally sustainable practices throughout the entire supply chain.
Green transition and digitalisation: There is a clear commitment to this vision from governments and businesses alike, with a focus on digitalisation, the green transition, and the industry of the future.

There are opportunities for even closer ties between India and Sweden, including a Free Trade Agreement between the EU and India.
The European Union presidency offers a chance to explore this possibility, which would have a positive impact on economic and industrial exchange, particularly in cities like Pune where Swedish companies have a strong presence.

The partnership between India and Sweden has come a long way in the past 75 years. Both nations have identified industry and manufacturing as key to building long-term economic growth, and there is a need to deepen work towards socially and environmentally sustainable practices.

Mains Question

Q. Discuss the key areas of collaboration between India and Sweden in the context of their 75-year bilateral relationship?

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