Swedish cos eyeing southern States

India could explore markets for Nano cars, bicycles, processed foods and textiles in Sweden, said Mr Lars Olof Lindgren, Swedish Ambassador to India.

Swedish companies are now looking at the Southern States to take advantage of the “favourable investment climate” in Sweden. Availability of skilled manpower and other facilities make the investment climate in Sweden very conducive, says a press release from the Confederation of Indian Industry, quoting the Swedish Ambassador. Swedish Trade Council in Bangalore would look into investment opportunities in all the Southern States.

He is also quoted as saying in an interactive luncheon meeting with industry recently, “If we can find ways to stimulate Swedish companies to invest in the South, there will be more investments. Now there is greater interest about India among Swedish companies than before.”

According to Mr Arun Vasu, Hon. Consul, Consulate of Sweden, Chennai, along with larger companies, a good number of small and medium Swedish companies were also setting up operations in India, especially in the South. He said the areas of interest for Sweden were environment and renewable energy.

Quoting Mr T.T. Ashok, Chairman of CII Southern Region and Managing Director, Taylor Rubber Pvt Ltd, the release says the areas identified for co-operation between the two countries are IT, telecommunications, biotechnology, environmental technologies and automotive industry.

India has emerged as Sweden's third largest trading partner after China and Japan in Asia. Sweden is the 12{+t}{+h} largest FDI investor in the country.

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