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Mint
12-06-2025
- Business
- Mint
Goyal discusses trade, FTA prospects with Sweden in push to deepen economic ties
New Delhi: Commerce minister Piyush Goyal on Thursday held wide-ranging discussions with senior Swedish government officials and industry leaders in Stockholm, as part of a broader effort to strengthen India's economic partnership with Europe. The talks focused on expanding bilateral trade, boosting investment flows, and exploring collaboration in emerging sectors such as clean technology and innovation, the commerce ministry said in a statement. Goyal, who is on a five-day tour of Switzerland and Sweden, co-chaired the 21st session of the India–Sweden Joint Commission for Economic, Industrial and Scientific Cooperation, where both sides reaffirmed their commitment to deepening strategic ties. According to the ministry, Goyal's meetings in the Swedish capital featured leading Swedish institutions, like LeadIT, Vinnova, the Swedish Energy Agency, the National Space Agency, the National Board of Trade, the Export Credit Agency, Business Sweden, and the Swedish Chamber of Commerce in India. A dedicated roundtable also explored ways to strengthen the India–Sweden economic corridor, the ministry said. Key areas of discussion included innovation, green transition, advanced technologies, and building resilient supply chains, it added. Goyal has wrapped up the Swiss leg of his tour. Last March, India and the four-nation EFTA – comprising Iceland, Liechtenstein, Norway and Switzerland – signed a free trade deal to integrate and strengthen supply chains, attract investments and generate new business opportunities. The EFTA has also made a binding commitment to invest $100 billion in India and create one million direct jobs in the next 15 years. Meanwhile, India and the European Union have also stepped up efforts to clinch a long-pending free trade agreement, aiming to forge closer economic ties as global supply chains shift. Negotiations, revived in 2022 after nearly a decade, have gained urgency with both sides seeking reliable trade partners. For India, the EU offers a major export market and investment in clean tech. For the EU, India is a growing economy and strategic hedge against China. Key hurdles remain—such as tariffs, intellectual property, and sustainability standards—but officials are optimistic about a breakthrough by 2025. During his visit to Sweden, Goyal also urged Swedish companies to expand their footprint in India, citing the country's investor-friendly regulations, growing consumer market, skilled workforce, and strong industrial base. Goyal participated in the India–Sweden High-Level Trade and Investment Policy Forum at the Confederation of Swedish Enterprise. He also held one-on-one meetings with Swedish firms from sectors such as automation, renewable energy, sustainable food systems, maritime technology, and advanced materials. Talks centred on easing land access, building skilling partnerships, and facilitating fast-track clearances.
Local Sweden
11-06-2025
- Business
- Local Sweden
Indian trade minister to visit Sweden
Indian Commerce and Industry Minister Piyush Goyal is visiting Sweden alongside a large business delegation from India on June 11th and 12th. Advertisement Goyal is in Sweden to, among other things, participate in the two countries' Joint Commission for Economic, Industrial and Scientific Cooperation. He will meet with Swedish International Development Cooperation and Foreign Trade Minister Benjamin Dousa, with the two taking part in bilateral discussions and business events with companies from Sweden and India. One of the topics up for discussion during the trip is the ongoing negotiations on a free trade agreement between India and the EU. "India is a fast growing economy, which in a few years is expected to be the world's third largest," said Dousa in a statement, describing pushing for the EU to sign a new free trade agreement with India as a top priority for the Swedish government. EDITOR'S PICK: "Together, the EU and India would form the world's largest free trade zone and a deal would give Swedish companies better access to an important market," he said. Advertisement The two ministers are also set to discuss Swedish-Indian cooperation in areas such as trade, innovation, research, health, energy, telecoms and the business climate. Sweden and India have both attempted to strengthen their ties in recent years. With more than 280 Swedish companies active in India, Swedish exports to India last year amounted to 22 billion kronor, an increase of 17 percent compared to 2023. In the same period, Sweden imports from India increased 16 percent to 13 billion kronor.
Mint
09-06-2025
- Business
- Mint
Goyal begins visit to Switzerland and Sweden to deepen trade ties, focus on India-EFTA pact
New Delhi: Amid ongoing negotiations for the Bilateral Trade Agreement (BTA) with the US, commerce and industry minister Piyush Goyal on Monday began a five-day official visit to Switzerland and Sweden, aimed at strengthening India's economic and trade ties with key European partners. The visit, which runs from 9 to 13 June, is expected to advance negotiations on the India-EFTA trade agreement and explore new avenues for investment in sectors such as precision engineering, pharmaceuticals, and sustainable technologies, as per a commerce ministry statement. However, the official release does not mention the inclusion of a business delegation with the minister, despite an earlier announcement by Goyal during his address at the CII Business Summit in New Delhi on 29 May, where he had indicated that a delegation of Indian industry leaders would travel with him to explore partnership opportunities. In Switzerland, Goyal will hold sector-specific meetings with global CEOs and senior officials from industries including life sciences and high-tech manufacturing. He is also scheduled to meet federal councillor Guy Parmelin, Swiss companies, and Indian industry representatives to push forward discussions on the India-EFTA Trade and Economic Partnership Agreement (Tepa), which is seen as a critical pillar of India's strategy to diversify trade partnerships and reduce reliance on traditional markets, the statement said. The minister's itinerary includes participation in the Swissmem Industry Day and a roundtable with the Swiss mechanical and electrical industries—sectors in which Switzerland has deep expertise and where India is seeking greater technology partnerships. The visit comes at a time when India is seeking to push forward stalled trade negotiations with several partners, including those under EFTA, amid a broader geopolitical push to deepen ties with Western democracies and reduce China-dependency in global supply chains. Switzerland, which has a major share of EFTA's total trade with India, is seen as a key player in finalising a balanced and forward-looking Tepa deal. After concluding engagements in Switzerland, Goyal will travel to Sweden, where he will co-chair the 21st session of the Indo-Swedish Joint Commission for Economic, Industrial and Scientific Cooperation (JCEISC) alongside Swedish minister for international development cooperation and foreign trade, Benjamin Dousa, the ministry said in the statement. The commission meeting will serve as a platform to review the current economic cooperation and identify new areas of collaboration, the ministry said. In Sweden, bilateral meetings are also lined up with Håkan Jevrell, state secretary to the minister of development cooperation and foreign trade, as well as CEOs of major Swedish firms, including Volvo Group, Ericsson, IKEA, Sandvik, Alfa Laval, and SAAB, the ministry said. Discussions are likely to focus on green technologies, advanced manufacturing, and innovation—areas where Sweden has global leadership and where India is aiming to accelerate its industrial transition.
Time of India
09-06-2025
- Business
- Time of India
Piyush Goyal to meet Swiss, Swedish business leaders; to discuss trade, investments
Commerce and Industry Minister Piyush Goyal will meet Swiss and Swedish business leaders this week and discuss ways to boost trade and investments, an official statement said on Sunday. Goyal is visiting Switzerland and Sweden from June 9 to 13. The visit is commencing from Bern in Switzerland, where the minister will engage with global CEOs and industry figures to explore avenues for enhanced bilateral trade and investment, the commerce and industry ministry said. He will hold discussions with companies from sectors, including pharma and life sciences, precision engineering, amid high-tech manufacturing. Goyal will also discuss potential opportunities arising from the India-EFTA Trade and Economic Partnership Agreement. In Sweden, he will co-chair the Indo-Swedish Joint Commission for Economic, Industrial and Scientific Cooperation (JCEISC) with Benjamin Dousa, Minister for Foreign Trade of Sweden. Companies like Ericsson, Volvo Group, IKEA, Sandvik, Alfa Laval , and SAAB are among those with a significant presence or interest in enhancing ties with India, it said.
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Business Standard
09-06-2025
- Business
- Business Standard
Goyal to meet Swiss, Swedish biz leaders, to discuss trade, investments
Commerce and Industry Minister Piyush Goyal will meet Swiss and Swedish business leaders this week and discuss ways to boost trade and investments, an official statement said on Sunday. Goyal is visiting Switzerland and Sweden from June 9 to 13. The visit is commencing from Bern in Switzerland, where the minister will engage with global CEOs and industry figures to explore avenues for enhanced bilateral trade and investment, the commerce and industry ministry said. He will hold discussions with companies from sectors, including pharma and life sciences, precision engineering, amid high-tech manufacturing. Goyal will also discuss potential opportunities arising from the India-EFTA Trade and Economic Partnership Agreement. In Sweden, he will co-chair the Indo-Swedish Joint Commission for Economic, Industrial and Scientific Cooperation (JCEISC) with Benjamin Dousa, Minister for Foreign Trade of Sweden. Companies like Ericsson, Volvo Group, IKEA, Sandvik, Alfa Laval, and SAAB are among those with a significant presence or interest in enhancing ties with India, it said. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
