PM Narendra Modi's Visits to Sweden and Norway
Objective
To strengthen India's trade and investment ties with Nordic countries, leveraging the India-European Union Free Trade Agreement, aiming for $100 billion in investments and one billion jobs in India over the next 15 years.
Visit to Norway
- Green Strategic Partnership:
- India and Norway elevated their bilateral relations to focus on developing global solutions from the blue economy to green shipping.
- Combines India's scale, speed, and talent with Norway's technology and capital.
- Third India-Nordic Summit:
- PM Modi will attend the summit in Oslo, Norway, marking his first visit to Europe post the India-EU trade deal negotiations.
Visit to Sweden
- Trade and Investment Goals:
- Resolve to double bilateral trade and investment in the next five years.
- Bilateral trade reached $7.75 billion in 2025, with $2.825 billion FDI from Sweden to India during 2000-2025.
- Plan to hold a bilateral trade and investment summit in India in 2027.
- Strategic Partnership:
- Includes security and defense dialogue, and encouraging Swedish investment in India's defense corridors.
- Collaborations:
- Development of a bilateral SME and start-up platform.
- Establishment of the India-Sweden Joint Science and Technology Centre and the Sweden-India Technology and Artificial Intelligence Corridor.
- Collaboration on green steel production and recruitment of skilled labor.
- Sweden agreed to host more Indian students and researchers.
- Space and Mining Collaboration:
- The Swedish Institute for Space Physics will collaborate with ISRO on the Indian Venus Orbiter Mission.
- Joint efforts in advanced mining and mineral-processing technologies.
European Round Table for Industry
- Meeting in Gothenburg:
- PM Modi addressed the meeting, also attended by European Commission President Ursula von der Leyen.
- Representatives from major Swedish companies like Volvo, AstraZeneca, Saab, and Ericsson were present.
- FTA and Investment Invitation:
- India finalized an FTA with the EU, TEPA with EFTA, and a Comprehensive Trade Agreement with the UK.
- PM Modi invited European corporations to invest in India's telecom, digital infrastructure, green transition, energy security, urban transformation, healthcare, and life sciences.
- Proposed an annual India-Europe CEOs Round Table and an India Desk at ERT.
