Policy

‘Sweden’s expertise in clean tech to aid ISA’

Our Bureau New Delhi | Updated on March 05, 2021

Prime Minister Narendra Modi with his Sweden counterpart Stefan Lofven during a virtual summit, in New Delhi, on Friday   -  -

Modi, Lofven take note of MoUs proposed in the area of airports, financial services

Prime Minister Narendra Modi has welcomed Sweden’s decision to join the International Solar Alliance (ISA) and said that the country could contribute significantly to the alliance with its expertise in clean technologies.

India and Sweden can also partner in the process of post-Covid stabilisation and recovery and make efforts to deepen cooperation in areas such as innovation, technology, investment, start-ups and research & development, Modi said at a virtual summit with his Swedish counterpart Stefan Lofven on Friday.

“Smart Cities, water treatment, waste management, circular economy, smart grids, e-mobility, digital transformation etc are areas where there is a high potential of enhanced partnership,” Modi said.

Following Lofven’s announcement of his country’s decision to join the ISA, an alliance of countries initiated by India to promote efficient consumption of solar energy, Modi stated that Sweden’s expertise and experience in clean and renewable technologies would contribute significantly to it and the collective efforts to meet the challenge of climate change.

The two leaders also took note of the MoUs proposed between entities in both countries. The first MoU is between Airports Authority of India and Luftfartsverket (LFV Air Navigation Services of Sweden) concerning Aviation Knowledge Exchange and Technical Transfer Programme. The second proposed MoU is between International Financial Services Centres Authority (IFSCA) and Finansinspectionen (Swedish Financial Supervisory Authority) for mutual cooperation to enhance cross-border participation and promote knowledge sharing between the authorities.

Membership

The growing membership of the India-Sweden joint initiative – the Leadership Group on Industry Transition (LeadIT) — that was launched during the UN Climate Action Summit convened by the UN Secretary General in September 2019 in New York was discussed at the meeting, said Vikas Swarup, Secretary (West), MEA at a press briefing.

“The two leaders reviewed the extensive ongoing engagement, and expressed satisfaction at the implementation of the Joint Action Plan and Joint Innovation Partnership agreed during Prime Minister Modi’s visit to Sweden in 2018,” he said.

Modi and Lofven noted the progress made in joint research and industrial collaborations in areas including life sciences & healthcare, circular economy, waste to wealth, water, smart cities, smart grids, e-mobility, and Artificial Intelligence among others that provide sustainable development solutions. The Indian PM pointed out that a steadily increasing number of Swedish companies in India were not just manufacturing but also setting up R&D centres which was a clear reflection of the growing ‘Ease of Doing Business and Innovation’ in India.

Published on March 05, 2021

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