Get All Access for $5/mo

How Swedish Business Community Can Benefit Indian Industry Commerce and Industry & Railways Minister, Piyush Goyal attended 19th Indo-Swedish joint commission for economic, industrial and scientific cooperation (JCEC) in Stockholm in Sweden

By Vinayak Sharma

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

PIB

Government is in a bid to forge ahead with the idea of promoting Indo-swedish business bond in India. Commerce and Industry Minister, Piyush Goyal reiterated the importance of joint action and joint declaration placed by the Prime Ministers of Sweden and India. They declared their acceptance on the partnership based on innovation and start-ups cooperation on both sides.

Commerce Minister Piyush Goyal emphasized on the work sectors in which Indo-swedish partnership can play its vital role. He highlighted the potential of Indo-Swedish Partnership under the memorandum of understanding in innovation, energy, healthcare, defence, sustainable urban development and railways.

Opportunities for Swedish Investment in India

At the joint commission, Piyush Goyal mentioned the importance of Indo-Swedish partnership in various areas of development. He stated the opportunities in the developmental sectors of India where the partnership can flourish itself.

At JCEC, Goyal addressed the partners with an overview of all the ease of doing business measures including structural and procedural reforms undertaken by the Indian government at centre and state level.

Road and Railways

Government has been taking measures to promote railways and roads since years. Swedish interest in these sectors would bring boost with the advanced technology and capital influx. Goyal stated about the expanding railways in India and its development pace along with the entry of new technology in the form of Vande Bharat express. Indo-Swedish partnership would take the sector to the standardized level of development. Indo-swedish collaborated ideas can help in welcoming the new tech revolution in India.

Infrastructure Investment and Start ups

Commerce & Industry Minister proposed the setting up of an Investment Enclave for Swedish investors in India with ready plug and play infrastructure that will help in creating an enabling ecosystem for Swedish companies in India, which was well received by the Swedish side. Both sides also agreed for greater cooperation between the Start-up ecosystems of both countries.

Ms. Anna Hallberg, Swedish Minister for Foreign Trade, agreed with Piyush Goyal that India offers an immense opportunity for Swedish businesses and highlighted that trade and investment could be taken to a higher level. She informed that there are more than 200 Swedish companies in India and more than 70 Indian companies in Sweden.

The Indian and Swedish sides complemented the Investment Facilitation Mechanism implemented through Department for Promotion of Industry and Internal Trade and Invest India in coordination with the Embassy of Sweden which has successfully resolved issues being faced by many Swedish companies in India.

The protocol of the JCEC provides a roadmap for taking Indo-Swedish Economic, Industrial and Scientific Cooperation to a higher level between the businesses and the Government of both countries.

Vinayak Sharma

Entrepreneur Staff

Correspondent, Entrepreneur India

Entrepreneurs

Academic Excellence Is Not Necessary for Success in Life: Hear from the Founder of this Exciting New Digital Education Platform.

Many educational platforms are emerging these days to help people qualify for various types of entrance examinations. But what about the students who don't want to take the traditional path, the ones who don't rank among the top 10 in the classroom yet still aim high in life?

Marketing

10 Effective Growth Marketing Hacks and Strategies for Your Startup

Working at a startup can feel like building a plane while you're trying to take off. Use these ten marketing tips to effectively grow and sustain your startup.

Science & Technology

No More ChatGPT? Here's Why Small Language Models Are Stealing the AI Spotlight

Entrepreneurs can leverage this growing tech to create innovative, efficient and targeted AI solutions.

Growing a Business

3 Branding Strategies That Will Make Any Brand Stand Out

Here's how to differentiate your brand in three essential steps — understanding your unique selling proposition, leveraging storytelling, and valuing feedback.

Growing a Business

The Top 5 AI Tools That Can Revolutionize Your Workflow and Boost Productivity

Discover the top 5 AI tools for marketing and content creation that every marketer needs to know.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.