VMPL
Stockholm [Sweden], October 21: EU–India Free Trade Agreement: Boosting Trade and Growth, a recent report prepared by the Confederation of Swedish Enterprise in close cooperation with CII estimates that the agreement could increase India–EU trade by up to US$133.9 billion by 2035. Against this backdrop, the 13th India–Sweden Innovation Day 2026 explored how improved market access and closer cooperation could support industrial transition, AI, sustainable manufacturing, emerging technologies and resilient supply chains, advancing the shared ambition of “Make in India – Made with Sweden.”
The event organised by India Unlimited, brought together over 350 participants, alongside senior government representatives, a high-level Haryana delegation, representatives of the Confederation of Indian Industry (CII), business leaders, investors and innovators. Held under the theme “India–Sweden 2035: Innovation for a Competitive Future,” the event centered on the India–EU Free Trade Agreement (FTA) and its potential to expand trade, encourage investment and deepen industrial and technology partnerships between India and Sweden.
Held in Stockholm on 15th October, 2026, the event featured inaugural addresses by Shri Nayab Singh, Hon’ble Chief Minister of Haryana, Mr. Benjamin Dousa, Hon’ble Minister for International Development Cooperation and Foreign Trade, Government of Sweden, Mr. Jan-Olof Jacke, Director General, Confederation of Swedish Enterprise, H.E. Anurag Bhushan, Ambassador of India to Sweden, Government of India and Robin Sukhia, Secretary General and CEO, Sweden–India Business Council. The inaugural session focused on strengthening the India–Sweden partnership and translating shared ambitions into practical collaboration, investment and market opportunities.
Shri Nayab Singh, Hon’ble Chief Minister of Haryana, in his inaugural address, said, “India–Sweden Innovation Day provides an important platform to strengthen cooperation in technology, innovation and manufacturing. Bilateral trade has grown from US 7.75 billion in 2025, and our countries share the ambition of doubling economic exchanges, including trade and investment, over the next five years. Haryana is keen to contribute to this growth through deeper partnerships under ‘Make in India’ and ‘Made with Sweden’. As the State Partner for this year’s event, we welcome Swedish businesses to explore investment opportunities in Haryana. We are committed to providing timely support, transparent processes and an industry-friendly environment to build lasting partnerships that contribute to the vision of Viksit Bharat 2047.”
Mr. Benjamin Dousa, Hon’ble Minister for International Development Cooperation and Foreign Trade, Government of Sweden, said, “India–Sweden Innovation Day highlights the strength of our complementary partnership, combining Sweden’s technological capabilities with India’s scale and talent. With timely implementation of the EU–India Free Trade Agreement, trade between our countries could grow by €5 billion by 2035. Around 300 Swedish businesses are present in India today, and my vision is to double that number in the next few years. Our strategic partnership creates opportunities across AI, 6G, quantum technology, space, life sciences and the green transition. We are committed to advancing the agreement’s swift ratification and strengthening investment ties so businesses can diversify supply chains and pursue new opportunities.”
While addressing the delegates during his inaugural speech, Mr. Jan-Olof Jacke, Director General, Confederation of Swedish Enterprise, said, “Our objective is to make it easier for Swedish and Indian companies to do business and innovate together. The EU–India Free Trade Agreement can be a game-changer by lowering barriers to trade and investment, but companies must understand its opportunities and know how to use them. With the ambition to double bilateral trade and investment within five years, we must now translate political momentum into results. India–Sweden Innovation Day 2026 provides an opportunity to develop new partnerships and investments by connecting Sweden’s advanced industry and technology with India’s scale, talent and growth.”
The event comes at a crucial time in India–Europe economic relations, following the conclusion of negotiations of the India-European Union Free Trade Agreement and the adoption of the India-Sweden Joint Action Plan 2026-2030. These developments provided an important foundation for expanding trade and investment, strengthening supply chains and creating new opportunities for business to operate across markets. The programme featured leadership dialogues and thematic sessions bringing together government representatives, industry leaders, technology experts, investors and research institutions to explore opportunities for deeper bilateral cooperation. Key participating companies included Ericsson, URC Construction, Ecometrix, Metsol, Cemvision, Kanthal, SKF, SSAB, L&T Construction, Alfa Laval, VAROPreem, Autoliv, Tata Consultancy Services (TCS), L&T Technology Services, Epiroc India, Emirates, Bonit Capital, Talentium, Leksell Social Ventures, Candela, Indcen Resor, Apollo Tyres and Inter IKEA Group.
During his inaugural address, H.E. Anurag Bhushan, Ambassador of India to Sweden, Government of India, said, “India–Sweden Innovation Day 2026 provides an opportunity to translate our strategic partnership into practical outcomes and advance the shared goal of doubling economic exchanges. India’s talent, innovation and scale, combined with Sweden’s technological strengths, create opportunities across artificial intelligence, advanced manufacturing, digital solutions and sustainable urban infrastructure. Haryana’s participation opens further avenues for Swedish companies to engage with India, while we also look forward to a stronger Indian business presence in Sweden. As the India–EU Free Trade Agreement moves towards implementation, we must work together to turn these opportunities into lasting partnerships. Our message is clear: Make in India, make with Sweden and innovate for the world.”
“The India–Sweden partnership now extends far beyond trade, bringing together industry, governments, agencies and technology startups to build a deeper strategic relationship. Innovation is about people, and connecting emerging startups and technological breakthroughs from both countries represents the next wave of collaboration. The 13th India–Sweden Innovation Day provides an opportunity to have meaningful conversations, build connections and learn from one another as we shape a more competitive future together,” said Mr. Robin Sukhia, Secretary General & CEO, Sweden–India Business Council.
A major theme of the event was the role of emerging technologies in shaping the next phase of industrial competitiveness. Sessions examined artificial intelligence, digital transformation, AI-enabled engineering, advanced analytics and digital twins, alongside opportunities to strengthen resilient supply chains and accelerate technology adoption. The program also focused on industrial decarbonization, resource efficiency and water stewardship, given the increasing importance of these issues to manufacturing competitiveness and long-term economic resilience. Discussions on startups and scaleups explored opportunities to strengthen innovation ecosystems, stimulate investment and support businesses looking to scale up across India, Sweden and Europe.
Sharing his insights on India–Sweden Strategic Partnership and his vision for Indian market, Mr. Magnus Ewerbring, Chief Technology Officer APAC, Ericsson, said: “India’s progress in digitalising society at scale is truly impressive, supported by strong mobile networks, forward-looking regulation and significant private investment. For Ericsson, India’s demanding operating conditions and the need to deliver high data usage at low cost create an environment that pushes cutting-edge technology to perform efficiently at scale. This digital foundation offers opportunities for Indian and Swedish startups to develop solutions, scale them in India and take them to global markets. Greater knowledge exchange can help both countries turn these capabilities into practical innovation.”
Commenting on India–EU Innovation Corridor from trade, supply chains and competitiveness, Ms. Keika Lee, Director, Global Public Affairs, Inter IKEA Group, said, ““India remains an important sourcing market for IKEA, with significant long-term growth potential. The EU–India Free Trade Agreement offers an opportunity that goes beyond tariff reductions to strengthen India’s role as a global manufacturing hub. Realising this potential requires access to materials, supporting industries, efficient logistics and simpler trade processes. By reducing complexity and enabling greater participation in global value chains, including for small and medium enterprises, the agreement can help businesses focus on growth, investment and innovation. The question is how quickly we can realise and scale this opportunity.”
Commenting on EU-India trade agreement, Ms. Asees Ahuja, Director, EU Policy, Confederation of Swedish Enterprise, said, “At a time of trade disruptions and rising protectionism, the EU–India Free Trade Agreement sends a strong signal that two of the world’s largest democratic markets remain open for business. Rules-based cooperation can give investors greater confidence and create fairer conditions for companies to compete, which is essential for innovation. Our analysis indicates that the agreement could help increase Indian exports to Sweden by 22% from current levels, with substantial economic gains for both sides. India–Sweden Innovation Day provides an opportunity to discuss how businesses can turn this potential into stronger partnerships.”
Highlighting the India–Sweden industry transition partnership, Mr. Niclas Carlsson, Head of International Market Development and Investment, Swedish Energy Agency, said, “Our role is to foster clean technology innovation and help develop competitive solutions that can be transferred and scaled. The India–Sweden Industry Transition Partnership provides an opportunity to bring technologies developed in Sweden to India and build business cases that can grow over time. Beyond funding, public support signals confidence in these solutions, opens doors and lowers barriers for companies. By working with partners in both countries, we can help promising innovations move towards implementation and wider adoption.”
Talking about India–Sweden cooperation and LeadIT experience, Per Andersson, Head of Secretariat, LeadIT, Stockholm Environment Institute, said: “Our priority is to scale up the promising collaborations between India and Sweden in steel, cement and heavy transport, working with industry, public institutions and investors to move beyond pilots towards wider implementation. Political commitment, effective partnerships and a trusted framework are essential to aligning industry with the Paris Agreement. Building on these strengths, we also see an opportunity to share solutions and experience from this cooperation with other emerging markets, including South Africa, Brazil, Indonesia and Vietnam. Trust between people and sustained engagement will remain central to delivering this transition.”
“Trust is the foundation of meaningful partnerships, and this was a clear message throughout the day's discussions. As exchanges between India and Sweden grow, India–Sweden Innovation Day plays an important role in bringing business and government leaders face to face, building relationships, bridges and synergies. These connections are what ultimately turn shared ambitions into tangible progress in trade, investment and innovation.” said Sanjoo Malhotra, CEO, India Unlimited
India Sweden Innovation Day is an annual platform supported by the Embassy of India in Sweden, the Sweden–India Business Council, the Confederation of Swedish Industry, Energy Agency of Sweden, the Confederation of Indian Industry and other partners to strengthen economic and cultural ties between India and Sweden. Led by Mr. Sanjoo Malhotra, CEO, India Unlimited brings together government leaders, industry experts and entrepreneurs through platforms such as India–Sweden Innovation Day to encourage dialogue, build partnerships and create opportunities for collaboration.
About India Unlimited
Founded in 2013, India Unlimited is a Sweden-based platform dedicated to strengthening India–Sweden relations through culture, innovation, business and people-to-people connections.
Its flagship initiatives include India–Sweden Innovation Day and the Namaste Stockholm festival, bringing together policymakers, businesses, innovators, artists and communities to build lasting relationships and advance collaboration between the two countries.
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