Union Commerce and Industry Minister Shri Piyush Goyal today said that India and Sweden should work together to build a more resilient & strong partnership.Speaking at the CEO Forum of India-Sweden strategic business partnership, he said that the year 2020 has been a challenging year, but let us convert this crisis into an opportunity.

Shri Goyal said “We would like Sweden to be a part of our efforts to expand Indian economy, to reach higher level of prosperity & design an India suitable for global engagement in the modern 21st-century world. I am sure that the CEO forum & Sweden-India strategic business partnership will help us expand this friendship at every level & make Sweden an important part of India's own growing economy.”

The Minister said that India, with 1.35 billion people, provides one of the world's largest business opportunity. “We have a very large & growing middle class, aspiring for a better quality of life. I am sure Swedish companies would love to work in India & explore better opportunities. We believe our renewed focus on technology will help us re-align India's priorities and Sweden will have an important role to play, being our natural partner for innovation & growth.”

Talking about Aatmanirbhar Bharat, Shri Goyal said that under it, we are encouraging import of high-tech products, encouraging people to bring technologies, skills, better qualities of healthcare & education to India. The effort to increase the presence of both, domestic & international companies in manufacturing space, will help us increase the income levels of people of India, expand the economy, de-regulate & remove investment barriers and help our economy to grow. He said that Sweden is as much a partner & a part of Aatmanirbhar Bharat as any other democratic, like-minded country which believes in rules of fair trade & reciprocal access to Indian businesses in their country. He said “Swedish companies in India have a very big role to play in our hope & desire to expand our engagement with the rest of the world. Under Aatmanirbhar Bharat, Sweden & India complement each other. Sweden is the world's innovator and is at the forefront of developing cutting edge technologies in a variety of fields. India can benefit immensely with this partnership.”

Shri Goyal said that we will look for Sweden & European Union also opening its doors a little wider, removing some of the non-tariff barriers or standards, so that there is reciprocity in our trade with Sweden & Europe & expansion of business on both sides.

The Minister said that the Prime Minister has been very focused on bringing more & more flexible and open Govt to introduce a greater degree of FDI in India & attract manufacturing. “We have a wonderful opportunity to expand the role of Swedish companies in India and simultaneously encourage Indian companies also to contribute to the development & growth of Sweden and for the better future for the people of Sweden. I continue to look forward to the support of Sweden in India's own efforts to expand our economy, to provide jobs & work opportunities to millions of boys & girls coming out with special skills which can help Swedish company expand their businesses.”

Trade and investment cooperation urged to remove non tariff barriers and boost reciprocal market access and technology partnership. India seeks deeper trade and investment cooperation with Sweden through reciprocal market access, reduction of non tariff barriers and regulatory facilitation to attract foreign direct investment. The initiative links Swedish participation to India's Aatmanirbhar Bharat agenda by promoting technology transfer, manufacturing partnerships, workforce skill development, and removal of investment barriers to expand bilateral commercial engagement.