India-Sweden Ties Set for Growth Through 2030 Targets
New Delhi, October 22: India and Sweden have set an ambitious goal of doubling bilateral trade and investment by 2030, placing artificial intelligence, emerging technologies and innovation at the center of their evolving partnership. Indian Ambassador to Sweden Anurag Bhushan made the remarks on Thursday during an interview.
The ambassador said the new partnership structure moves beyond conventional economic ties and is designed to build a generation of forward-looking economic cooperation. He pointed out that when Prime Minister Narendra Modi visited Sweden in May 2026, the two countries upgraded their relationship to a strategic partnership and adopted a roadmap for collaboration in several major sectors.
Bhushan quoted both Prime Ministers as having fixed a clear objective: doubling trade and investment by 2030.
Economic cooperation, he explained, is one of four central pillars of the partnership. The remaining pillars are security, emerging technologies and people-to-people connections.
According to him, the governments have been using a five-year action plan to translate the summit's political commitments into measurable business results. Several Indian state delegations and industry organisations have visited Sweden to look for new investment and partnership avenues.
A significant element of the relationship is the proposed Sweden-India Technology and Artificial Intelligence Corridor. Its purpose is to strengthen cooperation in emerging technologies, innovation and advanced digital infrastructure.
The ambassador said both countries have robust innovation ecosystems and startups that compete on the global stage. This creates substantial scope for collaboration in AI, information technology and future communication technologies.
“Sweden is a leading player in technology and AI, while India has enormous talent, a sizeable market and a digital economy that is growing quickly,” he said.
Bhushan singled out Gothenburg, describing it as a leading hub for Sweden's technology and AI industry. He suggested that the city could become an important point of collaboration for companies, startups and research institutions across both nations.
He further observed that Swedish companies bring cutting-edge technical expertise but face a relatively limited domestic market. As a result, India is becoming an appealing destination for expansion, testing and the commercial use of new technologies.
The proposed corridor, he said, will support joint research, startup partnerships, business cooperation and cross-border investment in cutting-edge areas such as AI, digital innovation and 6G.
The ambassador also noted that the number of Swedish companies operating in India is growing steadily. About a year ago the count stood at around 275. It has now risen to roughly 300.
Both countries, he said, are promoting the “Make in India, Make with Sweden” model, which will combine Sweden's technological strength and innovation with India's manufacturing capability and large market.
On future plans, Bhushan said the bilateral summit proposed for India in 2027 would bring together business communities, investors and policymakers. It will also help prepare a long-term roadmap for strengthening ties through 2047.
He highlighted the India-Sweden Innovation Day as another valuable initiative, helping startups, governments, research institutions and private firms identify practical opportunities for collaboration.
“Forums like these turn strategic partnerships into real results,” Bhushan said.