India Sets 2030 Trade Targets With Poland and Sweden

Prime Minister Narendra Modi is pursuing a strategy to expand India's economic and strategic footprint in Europe, setting targets to double bilateral trade with both Poland and Sweden by 2030.

In New Delhi on October 22, Modi met with Polish Prime Minister Donald Tusk to coordinate the expansion of market access and the diversification of critical value chains. The two leaders called for the early ratification of the EU-India Free Trade Agreement and agreed to enhance cooperation in semiconductors, space, agriculture, and the circular economy. They also discussed improving connectivity via the India–Middle East–Europe Economic Corridor and negotiating direct flights between the two nations.

Parallel to these efforts, India has elevated its relations with Sweden to a Strategic Partnership following Modi's visit to Gothenburg in May. This partnership, established with Swedish Prime Minister Ulf Kristersson, focuses on state security, emerging technologies, and trusted connectivity. A central goal of the alliance is to shift the defense relationship from a buyer-seller model to one of co-development and co-production. As a result of this shift, the Swedish defense company Saab AB is establishing a Carl Gustaf M4 facility in Jhajjar, Haryana, utilizing 100 percent foreign direct investment.