Monday, September 14, 2009

Business Relation between India and Sweden Getting Stronger

A report released by Confederation of Indian Industry (CII) claims that India-Sweden business bond will get stronger in the years to come. The bilateral trade between the two countries was worth $2.7 billion until 2007-08 business year, a four-time increase since 2002-03 business year. It is expected that the bilateral trade between India and Sweden would double within next 5 years as there are a number of potential sectors including electrical and electronic equipment, environment, food processing and infrastructure where business between the two countries can grow over the next few years.

In the space of nine years, ranging from April 2000 to May 2009, Swedish investment in India increased to $500 million and there is every possibility it could grow in the coming years. There is also an indication of increase in Indian investment in the Scandinavian country in the sector of IT and pharmaceutical.

Anand Sharma, the Commerce and Industry Minister of India, would tour Sweden very soon and the report of Confederation of Indian Industry (CII) will be released in Sweden during his visit. Mr. Sharma, along with his other members of the Indian delegation, would hold several meeting with Sweden’s Trade minister Ewa Bjorling. Industry leaders of both the countries would also hold talk regarding potential sectors where business can grow in future.

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