India, Sweden become Strategic Partners to deepen mutual cooperation
Boosting bilateral ties, India and Sweden have agreed to elevate the bilateral relationship to a Strategic Partnership as Prime Minister Narendra Modi held talks with his Swedish counterpart Ulf Kristersson. They discussed ways to deepen cooperation in trade & investment, technology and innovation, green transition, space, emerging technologies, defence & security, SMEs, research and people-to-people ties.
Both sides also agreed to identify new opportunities in the spirit of the India-EU Strategic Partnership and recently concluded the India-EU FTA for the benefit of their peoples. Further, the leaders also exchanged perspectives on regional and global issues. They emphasised the urgency to reform the UN and multilateral organisations, and agreed to advance cooperation in multilateral fora. Besides, Swedish Prime Minister Kristersson appreciated the strides being made by India in the field of digital transformation and Artificial Intelligence.
India is the third largest trading partner for Sweden in Asia. The bilateral trade between two countries has increased from $2.86 billion in 2016 to about $7 billion by 2024-2025. India’s exports include pharmaceuticals, textiles, engineering goods, and chemicals, while Sweden’s exports comprise machinery, vehicles, telecom equipment, and precision instruments.
