Interviews
Sweden keen to develop trade & economic relations with India
01 Apr '08
3 min read
As regards Indo-Swedish Joint Commission, Shri Kamal Nath stated that he recognises the importance of early holding of 15th meeting of the Joint Commission in 2008.
Underlining India's liberalized overseas investment norms, Shri Kamal Nath informed that more than 13 Indian IT companies have their offices in Sweden.
Wipro, TCS, Infosys, L&T, etc. have bagged important projects in Sweden and some them have their development centres in Sweden and their cumulative exports are estimated at US $ 80 million. A few Indian pharma companies have also formed collaborative relations to establish joint R&D facilities in Sweden.
As regards multilateral trade is concerned, Shri Kamal Nath informed the Swedish Minister that India looks forward to the conclusion of the Doha Round by 2008. “India has been engaging constructively and actively with other fellow Member countries of the WTO towards this end.
For India, it is important that the Doha Round negotiations are brought to a successful conclusion. Such a conclusion can only be possible if we are faithful to the mandate and the outcome reflects a clear balance between market opening and the development needs of the majority of the membership.
India is ready to show the necessary flexibility to achieve such an outcome but the onus for movement lies largely with the developed countries”, he added.
The bilateral trade between India and Sweden during the year 2006-07 was to the tune of US $ 2322 million, compared to US $ 1498 million in 2005-06. The main export items to Sweden are: readymade garments cotton including accessories, manufactures of metals, cotton yarn, fabrics, made-ups, etc, machinery and instruments and carpet.
The major import items from Sweden are: electronic goods, computer software in physical form, machinery except electrical and electronics, gold and iron and steel.
Sweden ranks 13th and cumulative FDI inflows (net of ADRs/GDRs) from Sweden is US $ 561.9 million (0.87%), excluding FDI inflows received for acquisition of existing shares (upto 1999), RBI's-NRI Schemes, stock swapped & advance pending for issue of shares.
Top sectors attracting FDI inflows (from January 2000 to October 2007) from Sweden are miscellaneous mechanical & engineering industries (21.27%), electrical equipments (including computer & pharmaceuticals (9.84%), industrial machinery (6.88%) & electronics (5.73%).
Underlining India's liberalized overseas investment norms, Shri Kamal Nath informed that more than 13 Indian IT companies have their offices in Sweden.
Wipro, TCS, Infosys, L&T, etc. have bagged important projects in Sweden and some them have their development centres in Sweden and their cumulative exports are estimated at US $ 80 million. A few Indian pharma companies have also formed collaborative relations to establish joint R&D facilities in Sweden.
As regards multilateral trade is concerned, Shri Kamal Nath informed the Swedish Minister that India looks forward to the conclusion of the Doha Round by 2008. “India has been engaging constructively and actively with other fellow Member countries of the WTO towards this end.
For India, it is important that the Doha Round negotiations are brought to a successful conclusion. Such a conclusion can only be possible if we are faithful to the mandate and the outcome reflects a clear balance between market opening and the development needs of the majority of the membership.
India is ready to show the necessary flexibility to achieve such an outcome but the onus for movement lies largely with the developed countries”, he added.
The bilateral trade between India and Sweden during the year 2006-07 was to the tune of US $ 2322 million, compared to US $ 1498 million in 2005-06. The main export items to Sweden are: readymade garments cotton including accessories, manufactures of metals, cotton yarn, fabrics, made-ups, etc, machinery and instruments and carpet.
The major import items from Sweden are: electronic goods, computer software in physical form, machinery except electrical and electronics, gold and iron and steel.
Sweden ranks 13th and cumulative FDI inflows (net of ADRs/GDRs) from Sweden is US $ 561.9 million (0.87%), excluding FDI inflows received for acquisition of existing shares (upto 1999), RBI's-NRI Schemes, stock swapped & advance pending for issue of shares.
Top sectors attracting FDI inflows (from January 2000 to October 2007) from Sweden are miscellaneous mechanical & engineering industries (21.27%), electrical equipments (including computer & pharmaceuticals (9.84%), industrial machinery (6.88%) & electronics (5.73%).
Press Information Bureau Government of India
Popular News
Leave your Comments
Editor’s Pick
Esteemed Clients
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
