Piyush Goyal discusses bilateral trade-investment with Swedish foreign affairs minister

New Delhi [India], March 17 (ANI): Commerce Minister Piyush Goyal on Monday discussed with Swedish Foreign Affairs Minister Maria M Stenergard ways to further strengthen the India-Sweden bilateral trade and investment partnership.

“Discussed ways to strengthen India-Sweden bilateral trade & investment partnership further, fostering economic cooperation and opening up new business opportunities in both nations,” Piyush Goyal wrote on X, sharing photographs from the meeting.

Minister of State for Commerce Jitin Prasada was also present during the meeting.

The Swedish minister also met with his Indian counterpart, S Jaishankar, and they discussed deepening their engagement with the European Union.

On Tuesday, the Swedish foreign affairs minister will take part in the Raisina Dialogue 2025. She will be part of the session ‘The Continent Debates: Europe’s Role in the World’.

2023 marked 75 years of diplomatic relations with India, which were established in 1948 and have steadily strengthened over the decades.

Regular political engagement, intensifying business ties, and cooperation on global challenges and multilateral issues define the strong India-Sweden partnership. Innovation, Technology, Investment, and R&D collaborations provide the bedrock of this modern relationship.

Sweden’s major industries include automotive, telecommunications, pharmaceuticals, industrial machines, precision equipment, chemical goods, home appliances, mining, forestry, iron and steel.

India is the 3rd largest trading partner for Sweden in Asia.

The number of Swedish companies with a business presence in India has increased from around 150 to around 260 in the last five years or so, while the number of Indian companies with a business presence has increased from around 50 to 75 over a similar period.

There has been a regular exchange of official and business delegations over the last several years.

A range of MoUs and bilateral Agreements exist covering sectors including Science and Technology; Healthcare, Sustainable Urban Development, Renewable Energy, Railways; Space, Polar Science, and Defence. There are a number of Joint Working Groups (JWG) established under many of these MoUs. There also exist agreements on avoidance of Double Taxation, Bilateral Investment Protection and Air Services.

The Indian Diaspora in Sweden is estimated to be over 60,000, including around 42,000 Indian nationals. Most of them are professionals, predominantly in the IT sector.

There is a large number of Indian researchers and students in Sweden. There are an estimated 1,500 Indian students in Sweden. So far, around 18,000 Swedish nationals have been issued OCI cards. (ANI)

Catch all the Business News , Corporate news , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.

Business NewsCompaniesNewsPiyush Goyal discusses bilateral trade-investment with Swedish foreign affairs minister

MoreLess

  • Aniket Pujari

    Aniket Pujari

    Aniket Pujari, a graduate in Financial Markets, is the founder of Minute To Know News, a digital platform providing daily news updates on cryptocurrencies, finance, and economics. With a passion for finance and technology, Aniket has been exploring the world of cryptocurrencies since 2015, building a deep understanding of these rapidly evolving industries.

    Related Posts

    Adobe diversifies beyond its cash cow to sell AI to businesses

    Alongside selling on-cloud, AI-integrated tools to generate content for a business’ marketing operations, California-headquartered Adobe’s new software platform will look to capture a share of customer service automation, technical support…

    Amazon Layoffs: AI likely to claim 14,000 corporate jobs by early this year as firm eyes cost cuts

    E-commerce major Amazon Inc. is set to layoff 14,000 managerial jobs by early 2025 in efforts to save costs for the trillion-dollar company, reported multiple media outlets on Tuesday, March…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    This widely followed investor survey showed a ‘crash’ in bullish sentiment for stocks

    Ethereum price on the brisk as Hyperliquid trader makes $86m profit

    Ethereum price on the brisk as Hyperliquid trader makes $86m profit

    Harvard is now tuition-free for students who qualify, expanding access

    Harvard is now tuition-free for students who qualify, expanding access

    Wall Street today: US stocks sink ahead of Fed rate decision, Tesla sheds 4.2%, Google drops 3.8%

    Solana’s anti-woke ad sparks community backlash

    Solana’s anti-woke ad sparks community backlash

    Apple UK battle on iPhone privacy is biggest data risk since Snowden