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The proposed India-European Union Free Trade Agreement (FTA) will simplify and reinforce bilateral corporate collaboration, said Swedens Ambassador to India Petra Menander, pointing to expanded opportunities for technology transfers and joint industrial initiatives.
Speaking to ANI on the sidelines of the Bharat RE Summit and Expo 2026, Menander stated that the trade pact will provide institutional backing to ongoing commercial and scientific engagements between Indian and Swedish enterprises. "IndiaEU FTA, I think it will help in all different ways because it will simplify cooperation between our companies," Menander said. She noted that the framework will also support joint research programs aimed at bilateral technology deployment. "It will reinforce the efforts that we're also doing on research and innovation to transfer technologies that are already being developed on both sides. So the flow will go both ways," she added. Menander emphasised Swedens participation as a partner country at the summit, highlighting the Nordic nation's domestic energy profile and existing industrial footprints in the Indian clean energy sector. "We have almost a complete non-fossil energy mix and we have lots of technology that is already being applied here in India in helping the India transition," Menander added. "And we have certain companies who are like Hitachi Energy, it doesn't sound Swedish but it's basically Swedish technology." She stated that these firms focus on grid integration to ensure stable power delivery across regions. "They're really helping by putting all the renewable energy onto the grid. So, not only the production, but also making sure that it actually reaches the people who need the energy," she said. Turning to bilateral industrial tie-ups, the envoy affirmed that engagement remains active through enterprise-level projects, joint platforms, and specialized technological domains such as battery manufacturing. On India and Sweden working together, the ambassador noted that we already do this through our companies. Because we have a lot of battery development in Sweden. We have the scientific collaboration that we both join up under Leadit or Lead IT where these issues are being discussed," she stated. Addressing potential cooperation in green hydrogen and heavy industry decarbonisation, Menander explained that the framework exists within mutual research programs and industrial transition initiatives. She also mentioned the joint work in zero-emission industrial manufacturing. "We have the ITP which is also picking up for instance on green steel which we're already producing with the help of hydrogen," she said. India and Sweden have seen steady growth both in goods and services sectors with bilateral trade surging from USD 2.86 billion in 2016 to about USD 7 billion by 20242025. India is the 3rd largest trading partner for Sweden in Asia. FDI equity inflow from Sweden to India, over the years, totals USD 2.59 billion making it the 22nd largest investor in India. Indias exports include pharmaceuticals, textiles, engineering goods, and chemicals; Swedens exports comprise machinery, vehicles, telecom equipment, and precision instruments. (ANI)
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