Prime Minister Shri Narendra Modi along with Her Royal Highness Crown Princess Victoria of Sweden and the Prime Minister of Sweden, H.E. Mr. Ulf Kristersson interacted with select Swedish CEOs on 17 May 2026.
Prime Minister Modi highlighted that India and Sweden are connected by shared values of democracy, transparency, innovation and sustainability, which provide a strong foundation for an ambitious and forward-looking economic partnership. He underlined that the India-Sweden partnership today is not merely an economic relationship, but a partnership of ideas, technology, innovation and co-creation. He welcomed the longstanding contribution of Swedish companies to India’s growth and encouraged deeper collaboration in research, innovation, green transition and manufacturing.
Prime Minister highlighted India’s rapid economic transformation driven by reform, strong domestic demand, digital public infrastructure, manufacturing expansion and next-generation infrastructure development. He invited Swedish companies to enhance their presence in India under initiatives such as MAKE IN INDIA, the National Green Hydrogen Mission, the National Critical Mineral Mission and expanding opportunities in sectors including clean energy, defence, semiconductors and advanced manufacturing.
The discussions also focused on strengthening cooperation in resilient supply chains, green transition, sustainable mobility, life sciences and digital technologies. Prime Minister Modi underlined the importance of combining Sweden’s strengths in innovation and sustainability with India’s scale, talent and growth momentum to co-create solutions for the 21st century.
Your Excellency, Prime Minister Kristersson, Your Excellency, Ursula, Delegates from both countries, Friends from the media,
Namaskaar!
First of all, I sincerely thank Prime Minister Kristersson for his warm welcome.
A short while ago, I was conferred with Sweden’s highest honour, the Royal Order of the Polar Star. This honour is not just mine; it is an honour for 1.4 billion Indians. It is also a tribute to all our friends in Sweden who have enriched India - Sweden relations and provided them with a strong foundation.
I express special gratitude to Ursula ji for joining today’s programme which gives special significance to my visit to Gothenburg, the industrial heartland of Sweden and Europe.
Friends,
The relationship between India and Sweden is built on strong foundations of democratic values, the rule of law, and human-centric development. Both our countries see innovation as a driver of growth, sustainability as a shared responsibility, and democracy as our strength.
In today’s meeting, we discussed taking our cooperation forward based on these shared values and common interests. As our partnership is growing across all sectors, we decided to raise our relationship to the level of a Strategic Partnership. Under this partnership, we will move ahead in key areas such as green transition, defence, emerging technologies, and people-to-people connections.
Friends,
There is tremendous potential for cooperation between us in high-tech sectors such as AI, health-tech, and green mobility. A large business delegation from Sweden participated in the AI Impact Summit held in India this year. We will work on concrete initiatives to strengthen the "Sweden–India Technology and AI Corridor.”
To strengthen connections between the startups and research ecosystems of both countries, we are going to establish the India - Sweden Science and Technology Centre.
There is also strong convergence between India and Sweden in our thinking on climate change and sustainability. The Leadership Group for Industry Transition, or LeadIT, is our joint global initiative under which we are focusing on low-carbon industrial transformation. Today, we decided to work on its third phase.
India is doing major work in areas like green hydrogen, the circular economy, and sustainable infrastructure. By bringing together Sweden’s technology and India’s scale, we can create climate solutions that benefit the whole world. India and Sweden’s cooperation in the Arctic region is also playing an important role in improving global understanding of climate change.
Friends,
Our cooperation in the defence sector is steadily growing. The setting up of manufacturing facilities in India by Swedish companies shows that our partnership is moving beyond a buyer-seller relationship and becoming a long-term industrial collaboration.
Friends,
Ursulaji’s presence today makes this occasion even more special. During her visit to India earlier this year in January, we took several historic decisions to strengthen India-EU relations further. I am happy to see that good progress is being made on all those outcomes.
The India-EU FTA will create new opportunities for industries, investors, and innovators. As Ursulaji said, this is the "Mother of all deals.”
The Security and Defence Partnership and the Mobility Agreement have given new strength to our strategic and people-centric partnership. The India-EU Trade and Technology Council has further deepened our cooperation. We are working together in areas such as digital technology, clean energy, semiconductors, resilient supply chains, and innovation.
Political, economic, and strategic convergence between India and Europe is important for peace and stability across the world.
Friends,
In today’s tense global environment, close cooperation between democracies like India and Sweden holds special significance. We have always emphasized dialogue and diplomacy as the means to resolve various tensions and challenges.
India and Sweden agree that terrorism is a grave challenge for all humanity. I express my gratitude to Prime Minister Kristersson for the support we received from Sweden after the terrorist attack in Pahalgam last year. We will continue our fight against terrorism and those who support it.
Excellencies,
Once again, I thank you for today’s meaningful discussions. I am fully confident that through our shared efforts, India-Sweden and India-Europe partnerships will continue to move forward, and together we will keep contributing to global peace, security, and prosperity.
Thank you very much.
कुछ समय पहले मुझे स्वीडन के Royal Order of the Polar Star के सर्वोच्च सम्मान से सम्मानित किया गया।
यह सिर्फ मेरा सम्मान नहीं है, यह 140 करोड़ भारतवासियों का सन्मान है।
यह स्वीडन के हमारे उन सभी साथियों का भी सन्मान है जिन्होंने भारत स्वीडन संबंधों को समृद्ध किया, एक मजबूत…
