Asserting that India’s “reform express” is going at full speed, Prime Minister Narendra Modi on Sunday asked Swedish companies to enhance their presence in manufacturing, green hydrogen mission, clean energy and other sectors.
Wooing European companies, Modi highlighted the potential in five broad areas, including telecom and digital infrastructure, and said they can help in making India a global R and D hub.
Electronics, deep tech manufacturing, AI, green energy, infrastructure, mobility, urban transformation, healthcare and life science are among the other areas where the prime minister sought collaboration.
On an official visit to Sweden, Modi, addressing the European Round Table for Industry (ERT), stressed that there are opportunities for all companies and assured that various steps, including an institutional system, can be put in place for them to be part of India’s flagship projects in the coming years.
The next wave of technology innovation should be co-created in India, he noted.
“In the last 12 years, India has been working on the basic mantra of reforms, performance, and transformation. And with the government’s political will, this Reform Express is moving forward at full speed,” Modi said at the roundtable as he mentioned the country’s young population, expanding middle class and infrastructure development.
India-EU FTA to create new business opportunities
Emphasising that India and Sweden are connected by the shared values of democracy, transparency, innovation and sustainability, Modi called for combining Sweden’s strengths in innovation and sustainability with India’s scale, talent and growth momentum.
Prime Minister of Sweden Ulf Kristersson, President of the European Commission Ursula von der Leyen, senior European industry leaders, and representatives from leading European and Indian companies also participated in the roundtable hosted by the Volvo Group.
In his address, Modi welcomed the growing momentum in India-EU relations, including the successful conclusion of negotiations of the landmark India-EU Free Trade Agreement. He described the agreement as a transformative economic partnership that would create new opportunities in trade, technology, manufacturing, services and resilient supply chains.
“We have set an ambitious and strategic agenda at the level of governments... As Ursula von der Leyen had said, this is the mother of all deals. We are trying to implement this as soon as possible,” he said.
In January, India and the European Union (EU) concluded the Free Trade Agreement (FTA).
He also noted that connectivity projects such as the India-Middle East-Europe Economic Corridor (IMEC) add new value to the India-Europe business partnership.
Modi highlights India’s manufacturing and digital growth story
Modi underlined that India today represents one of the world’s most attractive destinations for investment, innovation and manufacturing.
He highlighted India’s rapid economic growth, next-generation economic reforms, ease of doing business, focus on governance, expanding digital public infrastructure, vibrant manufacturing ecosystem, and rapidly transforming infrastructure sector.
Prime Minister Modi reiterated India’s vision of “Design for India, Make in India and Export from India” and invited European companies to deepen their engagement with India as a trusted and reliable economic partner.
He also underlined the importance of talent mobility, education and skill partnerships between India and Europe. He highlighted India’s young and skilled workforce as a major strength for future global economic growth and emphasised the need to deepen people-to-people ties and innovation partnerships.
The prime minister suggested holding the India-Europe CEOs Round-table annually and also creating an India Desk at ERT. The interaction provided an important platform for exchanging views on strengthening India-Europe economic and industrial cooperation and reaffirmed the shared commitment of India and Europe to sustainable growth, technological collaboration and resilient global partnerships.
Swedish firms invited to deepen collaboration in India
Modi, along with Crown Princess Victoria of Sweden and Prime Minister Kristersson, also interacted with select Swedish CEOs.
During the interaction, 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, said a release issued by India’s external affairs ministry.
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.
The prime minister invited Swedish companies to enhance their presence in India under initiatives such as ‘Make In India’, the National Green Hydrogen Mission, and the National Critical Mineral Mission.
He also talked about 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.
Modir 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, according to the release.
Regarding the relations between India and Sweden, Modi highlighted that both countries are working on developing a long-term industrial partnership beyond the buyer-seller relationship.
Published on May 18, 2026