Shri Sachin Pilot, Minister for Corporate Affairs, during his three –day official visit to Sweden last week had a meeting with the Foreign Minister of Sweden, Shri Carl Bildt and Swedish Minister for Financial Markets, Shri Peter Norman.

On Saturday Shri Pilot met Shri Bildt and the two Ministers noted with satisfaction the steady progress in bilateral relations between the two countries during recent years which have been marked with frequent Ministerial-visits and interactions. Shri Pilot said that though the bilateral trade has increased over the last five years, and was close to 3 billion dollars last year, the economic engagement is still far below the potential of what was possible. The Minister briefed the Swedish Minister about the status of the Indian economy and they briefly discussed the continuing Euro -zone crisis and its implications for their respective countries. Shri Pilot expressed the hope that given the excellent bilateral relations, Sweden would support India’s application for observer status in the Arctic Council.

Earlier, Shri Sachin Pilot called on the Swedish Minister for Financial Markets, Shri Peter Norman. He briefed Shri Norman regarding the steps that his Ministry had taken to put in place a new paradigm for the functioning of companies in India. For example, the process of registration of companies had been made completely electronic and the Company Law was being updated. He also briefed the Swedish Minister regarding the role of his Ministry with regard to competition policy and regulation of listed companies. Shri Pilot invited Shri Norman to visit India to see at first hand the vibrancy of Indian financial markets. The invitation was accepted with pleasure. On Friday, Shri Pilot spoke about the various opportunities that exist for two-way trade investment between India and Sweden, to a large audience comprising Swedish business, Government and media, followed by a lively and useful interaction.

KKP

(Release ID :94691)

Company law reform advances with electronic registration to strengthen corporate governance and boost bilateral investment ties. The Indian Minister for Corporate Affairs outlined Company Law modernisation, highlighting fully electronic company registration, updates to statutory corporate frameworks, and the Ministry's responsibilities for competition policy and regulation of listed companies, presenting these reforms as measures to improve the business environment and promote two way trade and investment with Sweden.