New Delhi: Minister of Trade Piyush Goyal on Thursday conducted extensive discussions with higher Swedish government officials and industry leaders in Stockholm as part of a wider effort to strengthen the Indian economic partnership with Europe.
Interviews focused on expanding bilateral trade, increasing investment flows and exploring cooperation in developing sectors such as pure technologies and innovations, the Ministry of Trade said in a statement.
Goyal, who is on a five-day tour in Switzerland and Sweden, co-chaired 21.
According to the Ministry, the Goyal meeting in the Swedish capital was leading Swedish institutions such as Leadada, Vinnov, the Swedish energy agency, the National Space Agency, the National Commercial Council, the Export Credit Agency, the Commercial Sweden and the Swedish Chamber of Commerce in India.
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The devoted round table also explored ways to strengthen the economic corridor in India – fallen, the ministry said.
The key areas of discussion included innovations, green transition, advanced technologies and resistant supply chains, he added.
Efta business agreement
Goyal wrapped his Swiss leg his tour. Last March, India and EFTA with four nations-ranking Iceland, Lichtenstein, Norway and Switzerland-Hospital on free trade signed to integrate and strengthen supplier chains, attract investments and create new business opportunities.
EFTA also binding to invest $ 100 billion in India and create one million direct jobs over the next 15 years.
Meanwhile, India and the European Union have also intensified efforts to conclude a long -waiting free trade agreement to create closer economic ties, as the global supply chains change.
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Negotiations, revived in 2022 for nearly decades, gained urgency with both parties looking for reliable business partners.
For India, the EU offers the main export market and investment in clean technology. For the EU, India is a growing economy and strategic securing against China.
Key obstacles persist – for example, tariffs, intellectual property and sustainability standards – but officials are optimistic about the breakthrough by 2025.
Courting Swedish Investors
During his visit to Sweden, Goyal also called on Swedish companies to expand their mark in India, quoting regulations for investors for investors, growing consumer market, qualified workforce and a strong industrial base.
Goyal took part in a high level of business and investment policy in India-Sweden at the Confederation of the Swedish enterprise.
He also organized an individual meeting with Swedish sectors such as automation, renewable energy, sustainable food systems, maritime technologies and advanced materials.
The interviews focused on relaxing land access, building skills and facilitating fast claims.
And read PIYUSH GYAL SETS TEPA ROADMAP, Urinis on the Swiss Indust
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