Union Minister Piyush Goyal on Wednesday proposed setting up of an Investment Enclave for Swedish investors in India to help create an enabling ecosystem for Swedish companies in the country.
The discussion in this regard was held during Goyal’s meeting with Swedish Minister for Foreign Trade Anna Hallberg at the 19th Indo-Swedish Joint Commission for Economic, Industrial and Scientific Cooperation.
“CIM proposed the setting up of an Investment Enclave for Swedish investors in India with ready plug and play infrastructure that would help in creating an enabling ecosystem for Swedish companies in India, which was well received by the Swedish side. Both sides also agreed to greater cooperation between the Startup ecosystems between both countries,” an official release read.
Hallberg said that India poses an immense opportunity for Swedish businesses and that the trade and investment between the two countries could be taken to a higher level.
The two sides complemented the Investment Facilitation Mechanism implemented through Department for Promotion of Industry and Internal Trade (DPIIT) and Invest India in coordination with the Embassy of Sweden which has successfully resolved issues being faced by many Swedish companies in India.
The Swedish Minister welcomed the Indian side’s offer to participate in Investment Enclave and said she looked forward to working together on innovative and smart solutions for bettering the lives of people from both countries.
Goyal reiterated the importance placed by the Prime Ministers of both the countries on the Joint Action Plan and Joint Declaration on Innovation Partnership agreed upon.The Minister highlighted the potential of the Indo-Swedish partnership under the MoUs in innovation, energy, healthcare, defence, Sustainable Urban Development and railways.
The India-Sweden Business Leaders Round Table (ISBLRT) was an important outcome of Swedish Prime Minister Stefan Lofven’s previous visit to India, creating a robust framework for bringing the business communities of both countries closer.
Goyal further showcased the opportunities available in India under all the different industries, including road, railways, highways, renewable energy, housing, smart cities, healthcare etc. He invited the Swedish business community to support and participate in these opportunities and serve the huge Indian market and export market from India.
The protocol of the JCEC provides with a roadmap for taking Indo-Swedish Economic, Industrial and Scientific Cooperation to a higher level between the businesses and the government of both countries.