Prime Minister Narendra Modi has said, India today represents one of the world’s most attractive destinations for investment, innovation and manufacturing. Mr Modi was addressing the European Round Table for Industry (ERT) at Gothenburg during his two-day visit to Sweden. He stressed that there are opportunities for all companies in the country and assured that various steps, including an institutional system, can be put in place for them to be part of India’s flagship projects in the coming years.
Prime Minister Modi highlighted that India has been working on the basic mantra of reforms, performance, and transformation in the past 12 years. He asserted that India’s “reform express” is going at full speed and asked Swedish companies to enhance their presence in manufacturing, green hydrogen mission, clean energy and other sectors. Prime Minister Modi highlighted the potential in five broad areas, including telecom and digital infrastructure, and said they can help in making India a global research and development hub.
Electronics, deep tech manufacturing, AI, green energy, infrastructure, mobility, urban transformation, healthcare and life science are among the other areas where the Prime Minister sought collaboration. He said, the next wave of technology innovation should be co-created in India. In his address, Mr Modi welcomed the growing momentum in India-EU relations, including the successful conclusion of negotiations of the landmark India-EU Free Trade Agreement. He also noted that connectivity projects such as the India-Middle East-Europe Economic Corridor (IMEC) add new value to the India-Europe business partnership.
Prime Minister of Sweden Ulf Kristersson, President of the European Commission Ursula von der Leyen, senior European industry leaders, and representatives from leading European and Indian companies also participated in the roundtable. Prime Ministrer Modi, along with Crown Princess Victoria of Sweden and Prime Minister Kristersson, also interacted with select Swedish CEOs.
Last night, Prime Minister Modi held talks with his Swedish counterpart Ulf Kristersson in Gothenburg and agreed to elevate the bilateral ties to a Strategic Partnership, marking a major milestone in the relationship. During his visit, Prime Minister Modi was awarded Sweden’s highest honour, the ‘Royal Order of the Polar Star, Degree Commander Grand Cross,’ in recognition of his exceptional contributions to bilateral ties and his visionary leadership. The award is the highest distinction that can be given to a Head of Government. This is Prime Minister Modi’s 31st international honour. Mr Modi reached Gothenburg yesterday on the third leg of his five-nation tour after concluding his visit to the Netherlands.
