Sweden Aims to Double India Trade by 2030

Swedish Ambassador to India Petra Menander announced that Sweden intends to double its economic exchange with India by 2030. Menander identified the upcoming India-European Union Free Trade Agreement (FTA) as the primary mechanism to simplify trade routines and achieve this growth.

The FTA follows a long negotiation process that began in 2007 and resumed in 2022, with a joint announcement made by Prime Minister Narendra Modi and European Commission President Ursula von der Leyen on January 27, 2024. The European Commission has since transmitted the agreement text to the EU Council for signature authorization.

To ensure the pact's implementation, Union Commerce and Industry Minister Piyush Goyal recently met with European Commissioner for Trade and Economic Security Maros Sefcovic to review progress. Current trade figures show bilateral exchange in goods reached USD 136.54 billion in 2024-25, while services trade totaled USD 83.10 billion in 2024.