PM holds roundtable with top Swedish CEOs, asks them to invest in India
Author: Desk April 18, 2018
Prime Minister Narendra Modi has invited top Swedish firms to invest in India and said stronger bilateral business relations would augur well for the people of the two countries.
PM Modi, who held talks with his Swedish counterpart Stefan Lofven earlier in the day, was welcomed by children in traditional Indian costume on his arrival at the Stockholm City Hall in Stockholm to attend the Roundtable Meeting with Swedish CEOs.
“Stronger business relations between India and Sweden augur well for the people of our nations. Met a group of leading Swedish CEOs at the roundtable in Stockholm,” PM Modi tweeted after he and Premier Lofven interacted with top Swedish business leaders.
Prime Minister Modi exhorted top Swedish CEOs to invest in India and participate in flagship initiatives, External Affairs Ministry Spokesperson Raveesh Kumar said.
“Sweden remains a valued partner for the @makeinindia initiative. PM highlighted the various investment opportunities in India,” a tweet on the PMO handle said.
Carsten Gronblad, Sweden’s trade commissioner to India, said around 30 CEOs or representatives of firms participated in the meeting.
“One of the main message from the speakers was that they consider India as a very strategic market and that they would like to partner India meeting certain challenges.
“If we look at Swedish investments, they are increasing over the last few years. Swedish companies have committed to invest USD 1.1 billion in India over the next two years,” he said.
The companies from Sweden have already invested USD 1.5 billion in India over the last three years, Gronblad said. This cumulative investment in India over a span of five years is more than that had been done over the last 20 years, he noted.
The major investors would be the likes of Ikea, AstraZeneca and Volvo trucks, he said.