Union Budget 2023-24
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Sweden opened its Embassy in New Delhi in November 1959. Since then, the bilateral relationship between the two countries has blossomed at the economic, military, energy, technology, automotive and political levels.  As on 2022, there are 200+ Swedish companies: one in every state in India and 70+ Indian companies in Sweden.

    • This year there have been three ministerial interactions- Foreign Ministers (Munich in Feb 2022); Environment Ministers (Nairobi in March 2022); Aviation & Infrastructure Ministers (Virtual in March 2022)Indo-Nordic Summit 2022

    • Heads of State of all Nordic countries (Finland, Norway, Sweden, Denmark, Iceland) interacted with Hon’ble PM Narendra Modi

    • A high-level bilateral discussion was held on April 25, 2022, between Hon’ble CIM Shri Piyush Goyal and Ms. Anna Hallberg, Swedish Minister of Foreign Trade and Nordic Affairs on Russia-Ukraine, the upcoming Joint Commission for Economic, Industrial and Scientific Cooperation (JCEC) and India Sweden Business Leader Roundtable (ISBLRT), EU-FTA negotiations, Indo-Nordic Patent Prosecution Highways, MoU on Civil Aviation.

    • Joint funding call on Circular Economy: The Intsam group (Vinnova, Swedish Research Council, Swedish Energy Agency, Formas and Forte) and India’s Department of Biotechnology (DBT), Department of Science and Technology (DST) and Ministry of Earth Sciences (MoES) have come together for a new joint call on circular economy to drive cross-sectoral research on circular economy.

    • Letter of Agreement between STINT and Science and Engineering Research Board (SERB, an autonomous body of DST) on researcher mobility exchange has been signed.

    • India-Sweden joint global initiative to set up a Leadership Group on Industry Transition (LeadIT) in September 2019 at the UN Climate Action Summit to help guide the world’s heaviest greenhouse gas (GHG) emitting industries towards the low-carbon economy. Its membership has now grown to 35 with 16 countries and 19 companies.

    • Sweden is the 22nd largest investor in India, with cumulative FDI inflows of $2.13 Bn during April 2000-March 2022. The sectors attracting the most FDI from Sweden are Healthcare, Construction and Engineering, motor vehicles, paper & pulp products, Telecommunications, Steel, Drug & Pharmaceuticals and Chemical.

    • Bilateral trade between the two countries has been growing steadily and reached $2.2 bn for the period April 2021- March 2022.

    • India – Sweden Trade Overview: Bilateral trade between India & Sweden has increased by 41% since 2020-21. Total trade was $ 2.4 Bn in 2021-22.

      • Exports to SWEDEN (2021-22): $1.03 Bn
      • Imports from SWEDEN (2021-22): $1.4 Bn


    • Top 5 Exports to Sweden:

      1. Nuclear Reactors and Machinery
      2. Apparel and Clothing Accessories
      3. Machinery and its Appliances
      4. Vehicles other than Railways
      5. Textiles
    • Top 5 Imports from Sweden:

      1. Nuclear Reactors and Machinery
      2. Iron and Steel
      3. Electrical Machinery & Equipment
      4. Vehicles other than Railways
      5. Pulp of Wood, Waste and Paper
    • There are over 200 Swedish companies operating in India, creating 200,000 direct jobs and 2,200,000 indirect jobs. This is testament to the strength of Indo-Sweden Association.

    • India is Sweden’s 19th largest export (update) market and third largest trade partner after China and Japan in Asia. The main items of Indian exports are garments, textiles, chemical products, food products, and semi manufactured and manufactured goods.

    • Business Survey Report:

      • 190 Swedish companies in India participated in the survey, Companies are more positive now than in 2019 or 2020.
      • 8 out of 10 companies foresee increased turnover in the coming 12 months, 1 out of 2 companies indicate growing investment plans this year
      • 3 out of 10 companies consider India to be competitive/ very competitive in global value chains, 60 companies manufacture in India
      • 3 out of 4 companies produce for domestic & export markets, 7 out of 10 are positive to the ambition of Atmanirbhar Bharat (Make in India 2.0) programme: http://swedishchamber.in/sites/default/files/A%20Green%20Journey%20%28IInd%20Edition%29.pdf
    • Sustainability Report:

      • 49 SWEDISH COMPANIES IN THE STUDY, 67% of the companies are manufacturing in India, mainly in Maharashtra, Karnataka and NCR.
      • Companies range from small to large, 66,805 MWh of green electricity generated
      • 51% undertake rain-water harvesting, 56% use recycled raw materials in products or packaging http://swedishchamber.in/sites/default/files/BCS%202021%20%282%29.pdf
    • The Indian Diaspora in Sweden is estimated to be over 60,000 that includes around 42,000 Indian nationals. Most of them are professionals, predominantly in IT sector. There is a large number of Indian researchers and students in Sweden. There are an estimated 1,500 Indian students in Sweden. So far, around 18,000 Swedish nationals have been issued OCI cards. There are a number of Indian Cultural Associations in Sweden based in Stockholm, Gothenberg, Uppsala, Lund, and Umeå, among others.

    • Indian classical arts, especially music and dance, are widely appreciated in Sweden. Yoga (and also Ayurveda) are popular among the Swedes. A day long Ayurveda Seminar was organised in Feb 2022 where around 70 Ayurveda practitioners from Sweden joined. Around 20,000 Swedish tourists are estimated to have visited India in 2019.

    • There are ongoing research linkages between academic institutions and universities between India and Sweden. Some of these include KTH (Royal Institute of Technology), Karlstad University, Uppsala University, Blekinge Institute of Technology, Linkoping University on the Swedish side and IIT Chennai, IIT Guwahati, Vellore Institute of Technology, Central University of Gujarat, Gandhinagar and BHU Varanasi.

    • Academic Chairs on Indian studies have been established in the past at prominent Swedish Universities – Lund, Gothenburg and Uppsala.

    • A popular annual cultural event ‘Namaste Stockholm’ is supported by the Embassy of India. It is estimated that the event attracts around 15,000-20,000 visitors. The event exposes Indian culture to Swedish people through dance performances, music, food, and culture from India.

    • Indian Women Football team visited Sweden in Oct 2021 to play friendly matches with Swedish teams. Indian team has a Swedish coach.

Prominent Investments

Sweden in India

Astra Pharmaceuticals

AstraZeneca India was established in 1979 and is headquartered at Bengaluru, Karnataka. AstraZeneca Pharma India Limited (AZPIL) is the operating ...Read more


In India, Volvo sells under the brands of Volvo, Eicher and SDLG. Their product portfolio includes Volvo Trucks, Volvo Buses, Volvo Construction ...Read more


IKEA has so far opened three big format Ikea stores that are operational in Hyderabad, Navi Mumbai and Bengaluru. The furniture retailer has been ...Read more

Tetra Pak

Tetra Pak India started operations in 1987 and being the first carton packaging company at that time brought many opportunities. It has partnered ...Read more


Ericsson was the 1st telecom company to Make in India in 1994. In India, Ericsson has offices in Ahmedabad, Coimbatore, Guwahati, Patna and 8 other ...Read more

India in Sweden

Larsen & Toubro Infotech

L&T Technology Services has been the engineering partner of choice for several major brands in the Nordic region for over a decade. LTTS has ...Read more

HCL Technologies

HCL’s presence in the Nordics as a leading global technology company has grown from strength to strength since its arrival in 2007. Most recently ...Read more

Wipro Technologies

The Nordic region has been a key market for Wipro since 1999, when it started its engineering and product R&D collaboration with two of the world ...Read more

Tech Mahindra

Tech Mahindra began operating in Sweden in 2006 and has since established strong relationships with over 15+ Clients in various Industries. These ...Read more

Tata Consultancy Services

TCS has been working with leading businesses in Sweden across multiple industries, since 1990. It has also been selected by Coop Sweden as a ...Read more
  • Renewable Energy

    Renewable Energy

    • #1

      Largest renewable energy capacity expansion program in the world

    • 2nd

      Highest installed wind capacity in Asia

    • 3rd

      Renewable Energy Country Attractive Index in 2021

      • 5th largest in renewable energy capacity globally
      • 36+ GW installed capacity of renewable energy
      • 5th largest for installed solar capacity
      • The world’s largest renewable energy park of 30 GW capacity solar-wind hybrid project is under installation in India
    Visit Sector 499Investible Projects
  • Automobile

    Automobile & Auto-Components

    • 4th

      Largest car manufacturer

    • 4th

      largest vehicle market

    • $118 bn

      Current value of Indian Automobile Industry

      • Largest two-wheeler and three-wheeler manufacturer
      • 2nd largest bus manufacturer 
      • 3rd largest heavy trucks manufacturer  
      • Employs 35 mn people both directly and indirectly
      • The India passenger car market values at $ 32.70 bn in 2021, and it is expected to reach a value of $ 54.84 bn by 2027 while registering a CAGR of over 9%.
    Visit Sector 3Investible Projects
  • Electronic Systems

    Electronic Systems

    • $ 220 bn

      ESDM sector in India by 2025

    • 16.6%

      Projected CAGR of the Sector during 2020-25

    • 2nd

      Largest smartphone market

      • Opportunities across electronics, technology and telecom sectors to reach $ 1 tn by 2024
      • Fastest-growing smartphone market in the Asia Pacific
      • Consumer electronics and appliances industry expected to become 5th largest by 2025
    Visit Sector 11Investible Projects
  • Pharmaceuticals


    • 3rd

      Largest market in terms of volume

    • 13th

      Largest market in terms of value

    • $41.7 bn

      Value of pharmaceutical industry in India

      • Exports 20% of global generic medicines, making it the largest provider globally
      • Over 55 % pharmaceuticals exports are to highly-regulated markets
      • Leader in global supply of DPT, BCG and Measles Vaccine
      • Expected to reach $65 bn by 2024, and 130 bn by 2030
      • India has the highest number of US-FDA compliant Pharma plants outside of USA
    Visit Sector 7Investible Projects
  • Agriculture


    • #1

      India is the largest producer of spices, pulses, milk, tea, cashew and jute

    • 2nd 

      Largest producer of Bamboo in the World

    • 2nd 

      Largest producer of of fruits and vegetables

      • India’s Agriculture Exports touch a historic high of $ 50 bn in FY 2021
      • India is the largest producer of spices, pulses, milk, tea, cashew and jute
      • India is the 2nd largest producer of Bamboo in the World
      • India is the second-largest producers of fruits and vegetables
    Visit Sector 76Investible Projects

Recent Investments


Ikea invests additional INR 600 crore in India business

Ikea invests additional INR 600 crore in India business, as part of the INR10,500 crore investment plan. The company already pumped in INR 850 crore into the India business earlier this year.


Becker announces a new subsidiary in India

Global vacuum and pneumatic equipment manufacturing specialist has announced the opening of a new subsidiary in India, adding to the existing four subsidiaries in Germany and 17 other subsidiaries worldwide along with numerous well-trained agencies worldwide.


Hindustan Zinc signs MoU with Sandvik to introduce BEVs in underground mining

Hindustan Zinc has signed a Memorandum of Understanding (MoU) with Sandvik AB to introduce battery powered loaders and trucks in underground mining.


Sandvik to build new plant in Pune

The company has made an initial investment of $45 million towards the 53 acre plant. The company will make investments in a phased manner over the next five years. The new manufacturing facility will help further innovate solutions under the ‘Make in India’ initiative.

Sweden Team

One-stop-shop for exploring and materializing your India entry plans. Working closely with the Union Ministries, States and regulatory authorities, we bring to you a seamless experience in kick-starting your India business.

Key Functions: 

  • End-to-end spectrum of investment promotion – research, outreach, promotion, facilitation and aftercare
  • Initiating, attracting, facilitating, fast-tracking and handholding Swedish investments across sectors
  • Providing information on investment opportunities across sectors, in specific projects and industrial corridors
  • Extending holistic support to the small and medium enterprises from Sweden with India interest

Team Advantages

  • Investment facilitation

    Investment facilitation

  • Opportunity assessment

    Opportunity assessment

  • Policy advisory

    Policy advisory

  • Market entry strategy

    Market entry strategy

  • Approvals and compliance advisory

    Approvals and compliance advisory

  • Issue redressal support

    Issue redressal support

  • Expansion advisory

    Expansion advisory

  • Policy impact analysis

    Policy impact analysis


About Us

Invest India

The one stop-shop to ensure your success in India

Our Prestigious Awards

We are the most awarded IPA in the world

  • The World's Most Innovative Investment Promotion Agency Award 2021 awarded by OCO Global

  • United Nations Conference on Trade and Development (UNCTAD) Investment Promotion Award 2020 for best practices in COVID response

  • Best Investment Project Award five years in a row - 2016 to 2020 at the Annual Investment Meeting (AIM) organized by the Ministry of Economy, UAE.

  • Great Place to Work Certification by GPTW Survey 2019

  • The UNCTAD Award 2018 for promoting investment in sustainable development

  • Great Place to Work Certification by GPTW Survey 2018

  • Investment Award 2016 from the Indian Ocean Rim Association (IORA)

  • United Nations Conference on Trade and Development (UNCTAD) Investment Promotion Award 2016 for excellence in partnering for investment promotion