Modi Pushes for Stronger India-Europe Economic Partnership
Prime Minister Narendra Modi on Sunday urged Swedish and European companies to expand investments in India, highlighting the country’s rapid economic transformation and investor-friendly reforms during a high-level business roundtable in Sweden.
Addressing the European Round Table for Industry (ERT) in Gothenburg, Modi said India’s “reform express” was moving ahead at full speed, driven by reforms, infrastructure growth, innovation and political stability. He invited global companies to partner with India in manufacturing, clean energy, artificial intelligence, semiconductors and digital infrastructure.
Focus on Green Energy and Advanced Technology
The Prime Minister identified five major sectors for deeper India-Europe cooperation, including telecom and digital infrastructure, AI and semiconductors, green energy, healthcare and advanced manufacturing. He also encouraged Swedish companies to participate in flagship initiatives such as Make in India, the National Green Hydrogen Mission and the National Critical Mineral Mission.
Modi said India could emerge as a global research and development hub and called for the next generation of technology innovation to be co-created in India. He highlighted the country’s young workforce, growing middle class and expanding digital infrastructure as major advantages for global investors.
Sweden and EU Leaders Back Stronger Cooperation
The event was co-hosted by Swedish Prime Minister Ulf Kristersson and European Commission President Ursula von der Leyen. Senior executives from major European firms including Volvo, Ericsson, Nokia, Airbus and Shell attended the roundtable discussions.
Kristersson said India and Sweden shared the ambition of doubling bilateral trade and investment within five years, adding that the target could be achieved even earlier considering the current pace of economic engagement.
India-EU Free Trade Deal Gets Major Push
Modi also welcomed the progress made on the India-European Union Free Trade Agreement, describing it as a transformative partnership that would strengthen trade, technology cooperation and resilient supply chains between the two sides. ([The Week][2])
The Prime Minister stressed that India and Europe could become “strong pillars of stability, sustainability and shared prosperity” at a time of growing global uncertainty and supply chain disruptions.
