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Latest Business News, Business News India Today | The HinduBusinessLine

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India and Sweden elevate ties to Strategic Partnership du...
2026-05-18 · via Latest Business News, Business News India Today | The HinduBusinessLine

India and Sweden on Sunday agreed to elevate their relationship to a Strategic Partnership, as Prime Minister Narendra Modi held talks with his Swedish counterpart Ulf Kristersson, focusing on trade, technology, defence, and other key areas.

Modi, who arrived earlier today for a two-day visit, was also awarded the ‘Royal Order of the Polar Star, Degree Commander Grand Cross’ in recognition of his exceptional contribution to the India-Sweden relationship and his visionary leadership.

During the delegation-level talks, the two prime ministers reviewed the full spectrum of India-Sweden relations and they agreed to elevate the bilateral relationship to a Strategic Partnership, marking a major milestone in the relationship.

“In light of our growing cooperation across every sector, we have decided to elevate our relationship to the level of a Strategic Partnership. In this partnership, we will focus and move ahead on green transition, security, emerging technology and people-to-people ties,” PM Modi said.

Focus on AI, green transition and defence cooperation

“We have good potential in sectors like AI, health tech and green mobility. During the AI-Impact Summit in India, a delegation from Sweden participated. We will work on the Sweden-India technology and AI corridor,” he said, addressing the joint press meet with PM Kristersson and President of the European Commission Ursula von der Leyen.

The Prime Minister said that cooperation between the two sides in the defence sector is continuously expanding.

“The establishment of production facilities in India by Swedish companies stands as a testament to the fact that we are moving beyond a mere buyer-seller relationship towards a long-term industrial partnership,” he said.

In today’s stressful global situation, close cooperation between democracies like India and Sweden holds special importance. For the resolution of various tensions and problems, India has always emphasised dialogue and diplomacy, he said.

PM Modi said that India and Sweden agreed that terrorism is a serious challenge for all of humanity. “I express my gratitude to Prime Minister Kristersson for the support we received from Sweden following the terrorist attack in Pahalgam last year. We will continue the fight against terrorism and its supporters,” he added.

Modi said the relationship between India and Sweden rests upon a strong foundation of democratic values, the rule of law, and human-centric development.

“Both our nations view innovation as a vehicle for development, regard sustainability as a shared responsibility, and consider democracy to be our greatest strength...,” he added.

New science and technology centre planned

To enhance connectivity between the startup and research ecosystems of both countries, the two sides have decided to establish an India-Sweden Science and Technology Centre, he said.

“The Leadership Group for Industry Transition is our shared global initiative, under which we are emphasising low-carbon industrial transformation. Today, we have decided to embark on its third phase.

“In India, work is being undertaken on a massive scale in the fields of Green Hydrogen, Circular Economy, and Sustainable Infrastructure. By combining Sweden’s technology with India’s scale, we can develop climate solutions for the entire world...,” he said.

India-EU FTA seen opening new opportunities

During Ursula von der Leyen’s visit to India in January, the two sides took several historic decisions aimed at elevating India-EU relations to new heights, the prime minister said.

“Progress is being made on all those outcomes. The India-EU FTA will unlock new opportunities for industries, investors, and innovators. To quote Ursula, this is the ‘Mother of All Deals...,” he said.

Meanwhile, Prime Minister Kristersson appreciated the strides being made by India in the field of digital transformation and Artificial Intelligence.

He also noted the positive contribution of the Indian community to Sweden’s economy and innovation ecosystem. Prime Minister Modi invited further Swedish participation in India’s growth story.

The two leaders also underscored that the recently concluded India-EU FTA has opened a new chapter in economic & commercial ties and agreed to continue efforts for its early implementation to facilitate deepening the trade, investment and technology linkages.

Ministry of External Affairs Spokesperson Randhir Jaiswal said that during the talks, the two prime ministers discussed ways to deepen cooperation in trade & investment, technology and innovation, green transition, space, emerging technologies, defence & security, SMEs, research and people-to-people ties. The bilateral trade reached USD 7.75 billion in 2025.

They agreed to identify new opportunities in the spirit of the India-EU Strategic Partnership and recently concluded the India-EU FTA for the benefit of their peoples.

PM Kristersson appreciated the strides being made by India in the field of digital transformation and Artificial Intelligence.

He also noted the positive contribution of the Indian community in Sweden. Prime Minister Modi invited further Swedish participation in India’s growth story.

Leaders discuss global issues and UN reforms

The leaders also exchanged perspectives on regional and global issues.

They emphasised the urgency to reform the UN and multilateral organisations, and agreed to advance cooperation in multilateral fora.

Crown Princess Victoria also participated in the meeting and conveyed warm wishes from the King and Queen of Sweden.

PM Modi thanked his hosts for the warm welcome and conveyed warm wishes to King Carl XVI Gustav on his 80th birthday.

Modi meets Maersk chairman, engages with diaspora

Separately, PM Modi also met Robert Maersk Uggla, Chairman of Maersk and discussed the large scope of opportunities in India and deepening investments, especially in sectors like port infrastructure, logistics and more.

PM Modi appreciated Maersk’s longstanding presence in India and encouraged them to invest in new business opportunities in the fields of maritime logistics and port infrastructure in the country, Jaiswal said in a post on X.

“They also discussed collaboration in green shipping and skilled mobility,” Jaiswal added.

Earlier, the prime minister’s aircraft was escorted by Swedish Air Force jets as it entered the European country’s airspace.

He was given a warm welcome at the airport by his Swedish counterpart in a special gesture. Modi had earlier visited Sweden in 2018 for the first-ever India-Nordic Summit.

Soon after arriving in Gothenburg, Modi met members of the Indian diaspora. He was welcomed with musical performances, including the rendition of ‘Vaishnava Jana To’ bhajan by Swedish opera singer Charlotta Huldt and a mesmerising Bharatanatyam performance by the students of Lilla Akademien.

During the reception, in the presence of PM Kristersson, a spectacular example of Bengali culture was showcased. “Bengali culture is popular world over and Sweden is no exception,” Modi said on social media.

Published on May 18, 2026